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ECONOMY MINISTER, EGYPTIAN COUNTERPART SIGN SUBMARINE DATA CABLE AGREEMENT

 

The economy ministers of Hungary and Egypt have signed an agreement on behalf of Hungary’s 4iG and Telecom Egypt aimed at building a high capacity submarine data cable between Egypt and Albania. Márton Nagy, the Hungarian minister, said at the signing ceremony that a competitive economy required a highly developed telecommunications sector, adding that the digital economy accounted for at least 25% of GDP. 4iG chief Gellért Jászai said the two companies could obtain a large share of the data communications market between Europe, Asia, and east Africa through the new project.