The Federation of Egyptian Chambers of Commerce (FECC) launched on Monday the Digital Future Initiative, which aims to enable Egyptian small and medium-sized enterprises (SMEs) to keep pace with digital transformation.
The initiative, launched in collaboration with Microsoft and Fiber Misr Systems, is the first of its kind in providing such professional support to the private sector, especially to SMEs.
Minister of the Public Business Sector Hisham Tawfik asserted at the launching event the importance of cooperation between the public and private sectors, adding that the initiative will allow the ministry to provide required experience to private sector companies through its digital transformation project.
He added that the ministry’s digital transformation project includes 20 contracts with international and domestic firms and it is expected to boost 30 percent of the domestic labour market in line with the state’s policy to adopt digitalisation.
“The first phase of the ministry’s digital transformation project has been applied in 63 firms (holding and affiliate firms) working in 12 sectors, which represents 50 percent of the ministry’s affiliates,” Tawfik said.
He also expounded that the project centres on four key pillars: preparing digital policies and procedures, which was done in November 2019; setting up enterprise resource planning (ERP) apps with total investments of $50 million; establishing data and technical support centres at total cost of $3 million; and training personnel to manage the system.
The COVID-19 crisis has imposed the need to expand in digital transformation, especially in developing countries and emerging economies, including Egypt, as a core contributor to alleviating the pandemic’s harsh impacts.