Minister of Planning and Economic Development Ahmed Rostom confirmed that developing digital infrastructure is at the top of the state's priorities to increase the competitiveness of the Egyptian economy, noting that Egypt's economic reform priorities lay a solid foundation for sustainable growth.
This came during his participation in a roundtable organized by Visa in cooperation with the American Chamber of Commerce in Egypt on "Promoting the Digital Economy in Egypt and the Role of Digital Payments in Driving Growth," with the participation of Minister of Investment and Foreign Trade Mohamed Farid Saleh along with Visa and AmCham executives.
The session witnessed a constructive discussion on Egypt's economic reform priorities, private sector-led growth opportunities, and the importance of digital payments, financial inclusion, and fintech innovations in supporting development. In his speech, Rostom emphasized that digital infrastructure development is crucial for positioning Egypt as a regional and global data hub, noting that the ministry is working to enhance electronic linkage between national databases to increase public investment efficiency.
Rostom pointed to recent directives by President Abdel Fattah El-Sisi to prepare a national strategy for data centers as part of state plans to localize advanced technologies and artificial intelligence. He noted that the ICT sector is a major driver of economic growth due to increasing foreign investments, highlighting efforts by the Ministerial Group for Entrepreneurship to support startups in enhancing the knowledge-based digital economy.
Visa Regional President for CEMEA Tarek Mahmoud stated that Egypt's economic reforms lay a solid foundation for sustainable growth, adding that digital payments are pivotal in transitioning to the formal economy, raising productivity, and expanding financial financial access for individuals and SMEs.