(Ecofin Agency) - Mohamed Maait (pictured), Egyptian Finance Minister, announced on August 15 that the government has allocated EGP12.7 billion ($797 million) for digital transformation in its 2020/2021 budget.

According to the official, the government seeks to digitalize the management of about 90% of imports and exports by the end of December 2020, through logistics centers. This will help reduce both the time it takes to release shipments (to less than five days) and the cost of customs clearance.

The digital migration project - in line with Egypt's 2030 development vision, which makes ICT and digital technology an essential pillar of national growth - aims to strengthen governance, judicious management of state resources, and stimulate investment.

According to the ICT Ministry, thanks to the EGP6 billion that has already been injected into the national digitization project, 5,300 government buildings across the country have been connected to optical fibers.