UAE & Egypt Sign Agreement to Support Growth of Digital Economy

By : Samira Njoya

Date : mardi, 19 décembre 2023 16:15

Last updated : mardi, 19 décembre 2023 16:25

Recognizing the transformative power of digital solutions, Egypt prioritizes international cooperation in its "Digital Egypt 2030" strategy. Recent ICT and telecoms agreements address critical infrastructure gaps and pave the way for a digitally fueled future, unlocking greater socio-economic prosperity.

The United Arab Emirates and Egypt recently signed a memorandum of understanding to establish a comprehensive framework for investment cooperation in the field of digital infrastructure, with a particular focus on data center projects in the Arab Republic of Egypt.

The agreement also provides for the improvement of relations between governmental and private institutions in the United Arab Emirates and Egypt, the development of certifications, research and development, and innovation in data center projects. According to the press release announcing the signature, a joint action plan and mechanisms for monitoring the implementation of the memorandum will also be developed through cooperation between the two parties.

"This memorandum supports our joint efforts to drive innovation and growth, contribute to the development of the digital economy in the Arab Republic of Egypt, and develop its digital infrastructure in preparation for the future," said Mohamed Hassan Alsuwaidi (photo, left), UAE Minister of Investment.

The signing of the MoU aligns with the Egyptian government's efforts to implement its "Digital Egypt 2030" digital transformation strategy, which aims to propel the country's ICT sector, modernize its telecoms infrastructure, and establish a robust network of data centers across the nation.

Ultimately, the agreement will enable the development of data centers with a total capacity of up to 1,000 megawatts, meeting the growing need for data centers in Egypt. Currently, the country operates 15 data centers while data from Statista reveals that the Egyptian data center market is poised to grow by 7.23% (2023-2028) to reach a market volume of $369.90 million by 2028.

Samira Njoya


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