Microsoft Egypt and Information Technology Industry Development Agency (ITIDA) sign an Agreement to expand ICT exports and offshoring services in Egypt

Cairo, Egypt : Microsoft Egypt and the Information Technology Industry Development Agency (ITIDA) sign a new incentive agreement in virtue of which the ICT exports and offshoring services of Microsoft Customer Experience and Support in Egypt will be promoted and expanded. This agreement is signed in light of Digital Egypt Strategy for Offshoring Industry 2022-2026 which paves the way boost the growth of the ICT sector in Egypt through encouraging exports and offshoring, increasing employment opportunities for youth and attracting investments.

Through the investment incentives that this agreement provides, Microsoft will continue to support the development of young talents and IT professionals in Egypt and enhance their access to the job market and employability. It will also contribute to Egypt’s positioning as an offshoring and talent hub for the region.

The agreement was signed by Microsoft Egypt General Manager, Mirna Arif and ITIDA CEO, Dr. Amr Mahfouz and witnessed by H.E. Dr. Moustafa Madbouly, the Prime Minister of Egypt and H.E. Dr. Amr Talaat, Minister of Communications and Information Technology (MCIT).

Dr. Amr Talaat, Minister of Communications and Information Technology endorsed the agreement inked with Microsoft which comes amongst several agreements with 29 multinational companies, creating over 34 thousand jobs directed towards exports through 35 global delivery centers with export value worth USD 1 billion annually. “These agreements reflect “Egypt’s conducive business environment and multinationals’ confidence in our qualified local talent” Talaat commented.

H.E. 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. “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.

Amr Mahfouz, CEO of ITIDA, said: “We’re thrilled to reach an agreement with Microsoft, helping 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, while simultaneously monitoring 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 the high-value services, including engineering, research & development (ER&D), embedded software, and electronic design” Mahfouz added.

The diverse IT & digital services, abundance of talent cost competitiveness, resilient business operations, and 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 favorable, reliable IT offshoring destination and business services’ hub.

On this occasion, Mirna Arif reiterated, “Microsoft Egypt remains committed to support the Government of Egypt to boost the growth of the ICT sector and to create job opportunities for youth in Egypt through increasing ICT exports and expanding offshoring activities.  The signature of this agreement is a manifestation of the strategic partnership between Microsoft and MCIT to support Egypt’s digital transformation journey and digital economy”.

Microsoft is the partner of choice for the government with 65 digital transformation projects, all in line with the Digital Egypt Strategy and Egypt Vision 2030.

 

U.S. 500 Global to open office in Egypt

U.S. based firm 500 Global has signed an MOU on Tuesday with the Egyptian Information Technology Industry Development Agency (ITIDA) to open an office in Cairo to boost the country’s evolving start-up ecosystem.

Egypt’s Minister of Communications and Information Technology Amr Talaat has witnessed the agreement, seeking to provide promising Egyptian-based start-ups with the necessary tools to succeed, according the Ministry’s statement.

The agreement aims to operate CREATIVA Innovation Hub in Giza as a vital global centre that is equipped at the highest level to develop startup capabilities and promote digital innovation and entrepreneurship among youth.

The three-year agreement, 500 Global will support nearly 200 startups, and create an investment fund for startups in Egypt.

Under cooperation; 500 Global will provide a yearly session of a scale-up program will be implemented for 15 start-ups in the pre-Series A stage, as well as two sessions annually of the start-ups camp program for 25 companies in the incorporation stage.

Talaat added that the Ministry is targeting to train aspiring accelerator managers, thus creating the conditions to foster a regional community of innovators.

500 Global is one of the largest and most active investors in emerging companies in the world, especially in the Middle East and North Africa region, and it is headquartered in Silicon Oasis, California, USA, and has offices in 16 countries.