The Information Technology Industry Development Agency (ITIDA) has recorded a rise in the number of business services and IT jobs offshored to Egypt.
At least 19 global services providers and leading tech companies have announced their expansion plans in the country and four new market entrants established their offices and research and development centres during the second quarter of the year.
Vodafone Intelligent Solutions (VOIS), a subsidiary of Vodafone Group, inaugurated its new office in Alexandria, adding 1,000 new contact centre jobs to serve Vodafone’s global customers in both German and English languages.
Other outsourcing players have already announced their expansion plans, including Webhelp, Sutherland, PWC and STMicroelectronics.
Geopolitical tension at other service locations has increased Egypt’s global appeal to investors and encouraged more demand from global enterprises choosing a reliable offshoring destination and business services hub.
“The current geopolitical scene works in favour of Egypt and guides investors and global service providers toward the country, being an ideal unparalleled offshoring destination and global digital services delivery hub for the EMEA region”, Amr Mahfouz, CEO of ITIDA, told Egypt Today.
“The cooperation with VOIS is one of our outstanding successes in attracting and fostering foreign investment in the IT offshoring business and the IT sector at large.”
Egypt has seen an increase in its appeal to investors since the government launched a new incentive scheme for foreign investments in light of the Digital Egypt Strategy for the Offshoring Industry 2022-2026.
According to Egypt’s Ministry of Communications and Information Technology, the local ICT sector has achieved the highest growth rate of about 16.3 percent among different state sectors in the last year. Egypt’s digital exports hit $4.9 billion.
Mahfouz said one of ITIDA’s strategic goals is to invest in developing digital and soft skills, and creating a talent pool that’s capable of building the knowledge economy.
VOIS Egypt’s office serves 14 markets around the world, makes annual investments of EGP3 billion in Egypt and plans to increase the number of employees from 8,600 to 10,000+ in its offices across Cairo and Alexandria.
Source: Arabian Gulf Business Insight (AGBI)
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