Hungary-Egypt Submarine Data Cable
Hungary and Egypt Sign Agreement to Build Submarine Data Cable
The economy ministers of Hungary and Egypt have come together to sign an agreement on behalf of Hungary’s 4iG and Telecom Egypt to build a high capacity submarine data cable between Egypt and Albania.
During the signing ceremony, Hungarian minister Márton Nagy emphasized the importance of a highly developed telecommunications sector in maintaining a competitive economy. He noted that the digital economy currently accounts for at least 25 percent of GDP.
Gellért Jaszai, chief of 4iG, expressed optimism about the new project, stating that the two companies could potentially secure a large share of the data communications market between Europe, Asia, and east Africa. The agreement signifies a significant step towards enhancing international connectivity and driving economic growth.
This collaboration is poised to have a far-reaching impact on the telecommunications industry and is expected to open up new opportunities for both Hungary and Egypt.
Source: MTI
