Prime Minister Mostafa Madbouly on Monday received Saudi Minister of Communications Abdulla bin Amer al-Sawahah to discuss cooperation in information technology and digital transformation.
Minister of Communications Amr Talaat and Saudi Ambassador to Cairo Ossama bin Ahmed Naqli also attended the meeting.
Madbouly stressed the importance of the visit given the great importance the two countries attach to information technology and digital transformation, which allows them both to exchange their experiences.
He added that the Fourth Industrial Revolution and AI technology have created jobs in specific fields, but in turn has caused the loss of jobs in other areas. This places a responsibility on governments to rehabilitate youth to adapt to this new age.
Sawahah referred to the participation of about 30 Saudi companies in the Saudi-Egyptian Digital Economy Forum which kicked off in Cairo on Monday, stressing the great desire of Saudi companies to invest in Egypt.
Talaat and his Saudi counterpart signed a Memorandum of Understanding (MoU) between Saudi Trust Company, which works in the field of smart solutions, business services and data services, and the Egyptian IPG Telecom Company to cooperate in developing smart business solutions for the government sector, serving the Egyptian digital economy.
The two ministers also saw the signing of an MoU between the Saudi Baud Telecom Company, specialized in the implementation of infrastructure projects for the installation, operation and maintenance of telecommunications devices, data communication networks, information and communication center systems and data security, and Misr for Central Clearing, Depository and Registry.
Talaat said on the sidelines of the inauguration of the Saudi-Egyptian Economic Forum that Egypt is seeking to establish knowledge in the digital economy.
Edited translation from Al-Masry Al-Youm