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Egypt’s telecom sector revenues hit EGP48 billion

Minister stresses investment opportunities and rapid growth of industry

The revenue from mobiles, landlines and Internet totalled EGP48 billion out of EGP66bn that was generated from the field of telecommunications and information technology, according to Khaled Najem, the Egyptian minister for Telecommunications and Information Technology.

Najem released this information during his meeting with Maurizio Massari, Italian ambassador in Egypt, to discuss ways of further cooperation in areas of mutual interest between the two countries.

During the meeting, Najem presented the investment opportunities available in various projects of the sector, which were first announced during the Economic Conference at Sharm El-Sheikh in March 2015, youm7 reports.

The minister further explained that the sector is expanding rapidly as the number of mobile subscribers is now approximately 90 million, while the number of subscribers to the ADSL service is 34 per cent and edging closer to the country’s target of 50 per cent by the end of 2016.

Massari stressed Italy’s eagerness to cooperate with Egypt in the field of telecommunications and information technology, to learn more about the ministry’s strategy and the current large projects in areas including technology and Smart metering.

(EGP1= AED 0.47, at the time of publishing)