According to the Information Technology Industry Development Agency the outsourcing industry in Egypt has finally reached an ICT export revenue of 1.1 billion dollars.
The head of PR at the ITIDA Ahmed Reda promoted the location of Egypt as having lots of advantages. It has also been voted the fourth most popular place for outsourcing services, up from sixth in 2010. In the last two years the ITC area in particular has received some massive deals from multinational businesses and received a record 17 new investments. This year alone showed an increase of 12 percent. Employment in this area has increased by 10 percent despite the unrest. Reda stated that this is due to the great training offered resulting in a very talented selection of young workers who speak several languages and the fact that they can serve a few different time zones.
Communications giants Motorola opened a new regional office and center in the capital which will become the main office for MENA. Other major companies that have extended their presence in Egypt are HSBC, Stream International, Orange Business Services and Sutherland who increased their staff to 460 a massive growth of 146 percent. The French Automotive supplier Valeo added another 142 graduated Egyptian engineers by December this year and plans to keep increasing over the next two years.
The goal was to reach a 1 billion dollar target but because IT companies are hiring this was surpassed and this sector appears to be unaffected by problematic issues in Egypt. The vision is to keep Egypt as a major outsourcing location and continue positive support to all the young talent and investors.
Smart Village now houses many head quarters of multinational businesses and organizations. The new IT Maadi Park due to be ready in 2012 will have 40 buildings housing around 300,000 workers making it a multinational hub for ICT.
This is great news for Egypt in such difficult political times and will encourage westerners who are employed in this sector or at any of the multinational companies to invest in learning the Arabic Language and boost their career prospects with effective communication.