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.