Majid Al Futtaim Global Solutions has signed an agreement with the IT Industry Development Agency (ITIDA) that will further strengthen its operations in Egypt. The agreement will further enhance the growth of Majid Al Futtaim Global Solutions’ Egypt centre of excellence, which provides a range of diverse offerings such as finance, human capital, IT, procurement and government relations, across Majid Al Futtaim’s operating companies and offices present within 17 countries.
In the presence of Prime Minister of Egypt Dr Mostafa Madbouly, and Dr Amr Talaat, Minister of Communications and Information Technology, the agreement was signed by Eng Amr Mahfouz, CEO, ITIDA and Mohamed ElGarhy, VP Finance Service Delivery at Majid Al Futtaim Global Solutions.
Taking place at Sultan Hussein Kamel Palace in Cairo, the signing event has seen several global tech companies and enterprises announcing their new investment or expansion of global delivery centers and shared services operations, showcasing sustained confidence in Egypt’s offshoring and outsourcing sector.
Second agreement
The signing ceremony marked the second agreement between ITIDA and Majid Al Futtaim Global Solutions, following the establishment of Global Solutions’ operations in Egypt on August 2021.
Dr Talaat endorsed the agreement, which comes amongst agreements with 29 multinational companies, creating over 34,000 jobs directed towards exports through 35 global delivery centres with export value worth $1 billion annually. “These agreements reflect “Egypt’s conducive business environment and multinationals’ confidence in our qualified local talent,” Talaat commented.
Talaat underlined Egypt’s potential as the next big hub for digital and high-end services, thanks to the constant efforts made to boost Egypt’s competitiveness in the offshoring industry.
Central location
“With its unique central location at the crossroads between 3 continents, Egypt delivers a resilient high-quality digital infrastructure, and provides a supportive legislative framework catching up with the global rapid growth,” he continued. “Our plentiful supply of tech talent is all set and ready at a competitive cost, with proven experience in business services delivery for global firms to more than 100 countries with 20 different languages,” Talaat affirmed.
Mahfouz said: “The agreement with Majid Al Futtaim (MAF) Global Solutions helps ITIDA achieve its strategic goals of the ambitious Digital Egypt strategy for the offshoring industry (2022-2026), that aims at multiplying the exports revenues from the offshoring sector, while creating more domestic jobs for our skilled pool of talent.”
“ITIDA is working diligently to leverage the current geopolitical situation that led to major challenges across key delivery locations. As we monitor the global shortage of talents, we invest heavily in building the digital and soft skills of our large talent pool, with a strategic focus on developing the country’s capabilities in high-value services, including engineering, research & development (ER&D), embedded software, and electronic design,” Mahfouz added.
Growth strategy
Commenting on the opening, Khaled El Chidiac, Chief Executive Officer at Majid Al Futtaim Global Solutions, stated: “The agreement is yet another opportunity to showcase our growth strategy and commitment to Egypt. ITIDA has been a key partner throughout every milestone of Majid Al Futtaim Global solutions’ success in Egypt. We are proud to continue to play a role in upskilling the Egyptian local talent and enhancing the capabilities of the ICT sector. Egypt is on the right track to become one of the top offshoring and outsourcing hubs in the world and at Majid Al Futtaim, we are honoured to be part of that journey.”
The diverse IT & digital services, abundance of talent, cost competitiveness, and the resilient business operations among with the government support, are among Egypt’s unique advantages that encourage global enterprises to launch and expand their global operations reinforcing the country’s reputation as a favourable, reliable IT offshoring destination and business services’ hub.
Source:Trade Arabia
