CEO of the Information Technology Industry Development Agency (ITIDA) Amr Mahfouz said that the Egyptian market has been a vital hub for the global outsourcing industry during the global crises that the world has witnessed over the past few years.
These unusual circumstances began with the spread of the coronavirus and still continue today with the war in Eastern Europe, which has supported Egypt’s position as an attractive and targeted market for the outsourcing industry thanks to the accumulated experiences of its employees, its distinguished geographical location, and its infrastructure, which can meet the needs of customers.
This came during the opening speech at the second networking forum organised by Etisal — the nucleus of civil society organisations for the ICT industry with a number of local and international companies.
Mahfouz then explained that last February, Egypt launched its digital strategy for the outsourcing industry for 2022-2026, and that it has four main axes — IT Services, Business Process Services, Knowledge Services, and Engineering R&D.
He added that the market volume exceeds over $320bn annually and that the US accounts for the largest share of this industry with $160bn, followed by the UK with $38bn, and the Middle East with only $5bn. Therefore, Egypt has a great opportunity for growth in this field and a lot of potential.
Furthermore, he said that the volume of employment in this field amounted to 100,000 specialist employees working in the field of service exports last year. 70% of whom are in large companies, and the remaining percentage work in small and medium enterprises.
Mahfouz went on to say that this industry is important and labour-intensive in light of the increasing number of graduates from Egyptian universities annually, reaching up to 600,000 graduates per year.
Regarding the measures taken by the government in this regard, Mahfouz said: “We are communicating with major international companies in this regard to promote Egypt. We are also communicating with international consultants by providing them with all data and information on the Egyptian market. We also communicate with foreign markets by participating in international exhibitions and attending conferences. We provide the cheapest price for the highest quality services. Additionally, out time zone is distinct compared to other competitors.”
“In the strategy, we aim to achieve a threefold increase in Egypt’s revenues from digital exports by 2026.”