The Egyptian Ministry of Communications and Information Technology (MCIT) signed a USD 10 million deal with Google to develop an advertising platform for Egyptian products and services. Google will invest 25% of payment back into the Egyptian economy. Over the medium to long term, Google’s USD 2.5 million investment agreement may include: development of digital media start-ups, incubation  and venture capital, funding for angels in the ICT sector, and possibly student training in online advertising.

MCIT Minister Tarek Kamel predicts that Egypt's ICT exports to the US will increase to USD 1.1 billion by 2010.

According to a recent Business Monitor International report on the state of the Egyptian industry, despite the internal economic crisis, Egypt’s total ICT spending is expected to increase from USD 1.2 billion in 2008 to USD 1.9 billion by 2013.

Source: ANSAmed