Egypt has become one of the world’s fastest growing locations for global outsourcing and services and has seen huge investments from several multinational groups during the past one year, said a senior official.
Hossam Megahed, board member for Egypt’s Information Technology Industry Development Agency (ITIDA), said companies such as EMC, Stream Global Services and Sykes Enterprise have been collaborating with the agency and outsourcing their business in the country.
Reiterating the value and strategic importance of outsourcing, Megahed said despite the economic challenges, Egypt’s economy grew by 5.8 per cent in the first quarter, accelerated by the 11.3 per cent growth of its Information and Communication Technology (ICT) industry.
According to Megahed, Egypt’s impressive infrastructure, favorable business environment, and world-class multilingual workforce were among the key factors that attracted companies to invest in the country.
‘The presence of high-profile companies like IBM, Microsoft and Vodafone in Egypt today highlights ITIDA’s continued success at building the country’s reputation as a global service delivery location,’ he remarked.
ITIDA recently showcased Egypt’s global outsourcing capabilities and offerings at the ‘4th Annual Shared Services Exchange,’ the invitation-only event designed for executives focused on strategy and partnerships in delivering value from shared services opportunities, held in Texas, US.
Megahed headed a host of panel discussions at the Shared Services Exchange, with leading representatives and executives from across the world.
He also discussed the emerging importance of Egypt in the global outsourcing market, as well as the importance of the Information and Communication Technology (ICT) industry to Egypt’s economic development at the event.
Megahed also participated in two discussions: ‘The Great Debate: Determining whether or not outsourcing is the best strategy for your organization’ and ‘Moving Beyond BRIC: Driving strategy out of dialogue on trends and challenges.
Source:http://www.tradearabia.com/news/newsdetails.asp?Sn=IT&artid=181187
