The third session—titled “Digital Economy: Towards a common Framework for Innovation and Growth between Egypt and Finland"—was held to explore prospects for advancing the digital economy through a strategic partnership aimed at achieving sustainable, innovation-driven growth. The session highlighted opportunities to align Egypt's rapidly evolving digital landscape with Finland's leadership in technological research and development, with the objective of establishing an integrated model of cooperation that supports economic transformation and enhances the competitiveness of both countries.

The session addressed a number of key pillars, including the development of integrated digital infrastructure, the application of artificial intelligence in supporting strategic transformation, and the enhancement of knowledge and expertise exchange. It also covered support for joint technology projects and investment mechanisms in the technology sector, thereby contributing to accelerating the transition toward a knowledge- and innovation-driven economy.

The session was moderated by Eng. Ayman Elgohary, Chairman of Global for Smart Solutions (GSS), with the participation of a distinguished group of officials and experts. Eng. Mahmoud Sofrata, Vice President of the Information Technology Industry Development Agency (ITIDA), affirmed that Egypt is steadily advancing toward consolidating its position as a leading regional hub for information and communications technology, driven by a clear strategy aimed at developing digital markets and attracting investment in the technology sector. He noted that the development of digital infrastructure, the promotion of innovation, and the empowerment of startups represent key pillars of the Agency's action plan, enhancing the sector's competitiveness and supporting its capacity for regional and global expansion. He further highlighted that international cooperation, particularly with Finland, opens broad prospects for knowledge transfer, expertise exchange, and accelerating digital transformation.

For his part, Mr. Tapio Naula, Finnish Embassy Commercial Counsellor, affirmed that economic relations between Egypt and Finland are witnessing notable progress, particularly in the fields of the digital economy and advanced technology. He noted significant opportunities to enhance cooperation in innovation and digital transformation. He added that Finland possesses globally leading expertise in research and development and technology, which can complement Egypt's fast-growing market, thereby contributing to the creation of strategic partnerships that support investment and open new avenues for companies in both countries. He also emphasized the importance of promoting knowledge exchange and capacity building in the areas of artificial intelligence and digital infrastructure.

Dr. Hisham Dannana, Professor of Analytics and Marketing Communications at the American University in Cairo and Director of Graduate Programs in the Department of Journalism and Mass Communication Department, also affirmed that digital transformation has become a pivotal factor in shaping the future of the global economy. He explained that the integration of data and artificial intelligence opens broad horizons for innovation and growth. He noted that international cooperation, particularly between Egypt and leading countries such as Finland contributes to accelerating the adoption of advanced digital solutions and building more efficient systems in business, marketing, and analytics. He further emphasized that investment in knowledge and the development of digital capabilities constitute a cornerstone for achieving sustainable development by linking academic research with market needs.

In the same context, Mr. Mikko Lavanti, Senior Vice President of Mobile Networks at Nokia for the Middle East and Africa, affirmed that digital transformation in the region is accelerating significantly, driven by investments in telecommunications infrastructure and advanced technologies. He noted that Egypt represents a pivotal market in the region, given its promising growth opportunities in the digital economy. He explained that Nokia focuses on supporting the development of modern telecommunications networks and enabling the transition toward more advanced technologies, emphasizing the importance of cooperation between the public and private sectors, as well as international partnerships, to accelerate innovation and build sustainable digital ecosystems. He added that the company adopts the concept of “Connected Intelligence," which integrates networks with artificial intelligence, noting that data has become the “new oil," and that its efficient and secure management is a key factor in supporting the digital economy. He also highlighted the importance of investing in 5G technologies, secure digital infrastructure, and data centers.

In the financial sector, Eng. Ahmed Khalifa, Executive Director of the Regulatory Sandbox Lab and Chief Data Officer at the Financial Regulatory Authority, affirmed that the development of flexible regulatory frameworks has become essential to keep pace with the rapid transformations of the digital economy. He explained that regulatory sandboxes enable the testing of financial innovations in a safe environment before their market deployment, thereby supporting investment attraction and fostering the growth of startups. He added that strengthening international cooperation in the fields of data and artificial intelligence contributes to building a more efficient and transparent financial ecosystem, while maintaining financial stability and safeguarding the rights of market participants.

Mr. Timo Honko, Executive Vice President of Solita Finland, also affirmed that the shift toward the digital economy is witnessing unprecedented acceleration, requiring strengthened international partnerships and the development of flexible and innovative cooperation models. He noted that collaboration between different markets opens broad opportunities for developing joint solutions that support sustainable growth and enhance the efficiency of economic sectors. He further emphasized the importance of investing in modern technologies and exchanging expertise to build a more competitive and stable digital future.

The session concluded with an emphasis on the importance of strengthening institutional cooperation between Egypt and Finland, in a manner that contributes to creating an enabling environment for investment in technology and innovation, and supports knowledge transfer and capacity building, particularly in the fields of artificial intelligence and digital infrastructure. Participants affirmed that this partnership represents a promising model of integration between emerging and advanced markets, paving the way for the launch of joint projects that contribute to supporting digital transformation and achieving sustainable economic growth in the region.

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