Egypt is a vital hub for the global outsourcing industry — ITIDA
Egypt remains to be a “vital hub” for the global outsourcing industry amid the various crises these past few years, said Information Technology Industry Development Agency (ITIDA) CEO Amr Mahfouz.
During his opening speech at a networking forum, Mahfouz explained that Egypt’s position as an “attractive and targeted” outsourcing market is due to its employees, distinguished geographical location, and its infrastructure.
He stated that the market volume expanded to more than $320 billion annually with the United States accounting for the largest share of contracts with $160 billion.
Meanwhile, the volume of employment reached 100,000 last year — 70% of whom are in large companies, and the remaining percentage work in small and medium enterprises.
Regarding the measures taken by the government, Mahfouz disclosed that they are communicating with major international companies to promote Egypt, providing international consultants with all data and information on the Egyptian market, and participating in international exhibitions and conferences.
Egypt also launched its digital strategy for the outsourcing industry for 2022-2026 which highlights four main axes — IT Services, Business Process Services, Knowledge Services, and Engineering R&D.
Mahfouz added that they are aiming to achieve a threefold increase in Egypt’s revenues from digital exports by 2026.
