Industry Outlook

Fastest Growing Sector

ICT industry is known to be the fastest growing sector in Egypt. The sector hit new heights, recording a growth rate of about 16.3%, outpacing all the state’s economic sectors during the fiscal year 2021/2022.

The sector has retained its leading position as the highest-growing sector over its peers for the fourth consecutive fiscal year; showing strong and resilient performance despite the global economic downturn and uncertainty.

According to a report issued by the Ministry of Planning and Economic Development on performance indicators of the Egyptian economy during the same period, the ICT sector has come at the forefront in the number and value of acquisition & merger deals in the MENA region during the first half of 2022.

It is creating 280K jobs (30%+ women participation). This has been fueled by the increased number of MNCs setting up in Egypt and the exponential growth of ICT exports reaching $4.9 billion in 2021/2022. Capitalizing on the pivotal location, abundant talent pool (low attrition rates 10-15%), cost-competitiveness and government support, high growth companies are directing their attention to the uprising ICT powerhouse in the region.

Hub to High-Growth Companies

Egypt is home to 500 Fortune companies with the likes of Amazon, Microsoft, IBM, Uber as well as tech-powered startups like Instabug, Vezeeta and Swvl. The country is leading the innovation scene in the region. It is attracting business moguls chasing tech-powered solutions to today’s global challenges. At this time, Egypt has established 150+ export delivery centers serving 100+ countries across North America, Europe, Middle East, Africa and Asia catering for ITS, BPS, KS and ER&D global demand.

Business leaders continually looking to grow their global footprint and provide client-centric solutions and services, will find Egypt as the frontier GBS/SSC destination for EMEA that offers high-tier capabilities such as business continuity, digitally skilled multilingual workforce and high-value services like IT, HR, finance & accounting, supply chain, and procurement.

Resilient & Agile

With its recent performance in the Economist’s Normalcy Index, Egypt was ranked 4th positioning itself among the top 10 countries showing resilience during COVID-19 pandemic. Furthermore, owing to the governmental investments in internet infrastructure upgrades, MNCs were able to migrate 50-80% workforce successfully to WFH within 2 weeks only without disruption in business processes and services as well as achieving their target revenues for 2020.

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Equipped with abundant highly-skilled talents, innovative hubs, labs & centers and increasingly heavy government support, the ER&D segment is progressively growing. Large players like Valeo, Siemens, IBM and BrightSkies are leveraging Egypt’s top tier capabilities in areas such as electronics design, embedded software and systems for their global delivery.

Egypt Makes Electronics:

(EME) is a presidential initiative launched to position the electronics industry as one of the key props for growth in the Egyptian economy. EME initiative focuses on two main scopes. First is the superior design and production of electronic circuits and systems with high added-value and backed with a high level of tech support. Second is creating a labor-intensive electronics manufacturing industry.

Industry Segments:

Product/System Definition & Design
IC Design & Development
Contract Manufacturing (ODM/OEM)
Logistics, Repair & Recycling

Industry Products:

Smart Phones, Tablets, and GPS LED Lighting/Displays
Smart Meters Solar Systems
IoT Devices/Smart Solutions Industrial Electronics
Electronics Innovation Hubs

Electronics Innovation Hubs are technical prototyping platforms for innovation and invention, providing stimulus for local students, graduates, entrepreneur and startups. The Electronics aim to leverage the whole value chain products development, starting from idea creation, system design, PCB fabricate/assembly/test, packaging digital fabricate to final product or system prototyping for mass production, including:

Electronics and IoT Development Lab (4G-enabled)
Multi-layer PCB Fabrication, Assembly and Testing laboratory
Digital Prototype Fabrication Lab
Co-Working Spaces

To learn about government support and incentives for ER&D, click here

Case Studies

Read below to learn more about how leading MNCs were able to achieve global scale efficiency, grow their business operations and reach/exceed their target revenues.

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