Egypt’s Information Technology Industry Development Agency, ITIDA and Webhelp, a global BPO provider, have agreed to invest EGP 200 million in the country’s outsourcing industry over the next three years.
Egypt, according to Minister of Communications and Information Technology Amr Talaat, noted that Egypt has become a popular destination for outsourcing and IT services investments due to its competitive advantages, which are topped off by a favorable investment environment.
The minister’s remarks came on the heels of the signing of a partnership agreement between the Information Technology Industry Development Agency (ITIDA) and Webhelp, a business that specializes in outsourcing, to expand the company’s operations in Egypt and create 4,800 jobs.
The three-year deal is part of a plan conceived by Egypt’s Ministry of Communications and Information Technology to boost exports of IT services.
ITIDA, according to Minister Talaat, will initiate an initiative to train youths in studying foreign languages, with a focus on German and French, to meet the needs of outsourcing firms.
ITIDA CEO Amr Mahfouz, for his part, said the agreement is part of the government’s efforts to attract more foreign investment into Egypt, noting that ITIDA has conducted a promotional campaign abroad in the past to attract more foreign companies to operate in Egypt.
The relationship with Webhelp, according to Microsoft’s Egypt office director Mirna Aref, meets the goals of creating jobs in Egypt and supporting the national economy.