One of the world’s fastest growing IT outsourcing hotspots is out to impress GITEX 2008
Cairo, Egypt – September 27, 2008: Egypt’s IT industry development agency, is leading the country’s largest delegation of 27 Egyptian IT companies to exhibit at GITEX Dubai 2008, the Middle East’s largest technology exhibition from Oct. 19 – 23, 2008.
The size of the delegation highlights the strength of the country’s ICT ecosystem which has been pinpointed in recent analyst reports as the world’s fastest rising IT outsourcing hotspot.
The Yankee Group in its report titled “Can Middle Eastern countries fulfill the ‘Eastern’ promise?” published in July 2008 concluded: “Egypt is by far the Middle Eastern country currently best positioned to take advantage of the boom in outsourcing.” The report also identified Dubai as facing “major challenges in convincing enterprises and IT service providers that it is a smart shore location.”
With its relatively young population, a multilingual workforce, and a large and burgeoning talent pool of IT professionals, the Egyptian outsourcing sector has received strong government support. It is projected that the Egyptian outsourcing sector will generate revenue of more than $1 billion by 2010, four times the 2005 revenue.
The World Bank in its annual “Doing Business” report has also recognized the Egyptian reforms. The country has topped the list of global reformers that are making it easier to do business in two out of the last three years and continues to be the leading regional reformer.
“Egypt has built an entire ecosystem to support the country’s ICT industry and pave the way for the growth in outsourcing,” said Dr Hazem Abdelazim, CEO, ITIDA. “The availability of a qualified multilingual workforce, excellent infrastructure and political stability - coupled with the development of our Smart Village technology park in Cairo and planned future technology and contact centre parks in Alexandria and Cairo - have all helped attract companies to invest in Egypt.”
The latest multinational to embrace Egypt is Teleperformance, one of the world’s leading providers of outsourced CRM and contact centre services, which has set up a new contact centrer in Cairo that will be home to over 2,500 workstations. IBM has just inked a deal with the Egyptian government to set up a Nano-technology research center in Cairo and pledged its support to a number of training and educational initiatives that will cement cooperation between the country and the leading company.
Other companies using Egypt as a base for their software development and technical support contact centers as well as research facilities include SQS, Valeo, Wipro, Satyam, Intel, Microsoft, Cisco and Oracle. The move by such high-profile companies highlights how fast Egypt is becoming the desired location for setting up business process outsourcing and knowledge process outsourcing centres.
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