Egyptian firms prosper overseas

North African nation represented by 86 companies

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Egyptian firms prosper overseas ElKady says IT is at the heart of Egypt’s economic growth plans.
By Staff Writer Published  October 17, 2012

Egypt’s Information Technology Industry Development Agency (ITIDA) has its biggest ever presence at GITEX TECHNOLOGY WEEK this year, with 86 companies supported by the agency at the show.

ITIDA is supporting companies that are present on its own stand, or exhibiting independently, with a major focus on companies involved in software development.

Yasser ElKady, CEO of ITIDA, says that around three-fifths of the companies are new to GITEX, while the rest have returned to the show after success in previous years.

“Companies are coming for the second or third time. GITEX has a proven track record, because it is creating a lot of business opportunities for them,” he says.

“They have been very successful after being in GITEX last year, a lot business has been conducted by these companies, and this is very much reflected in the numbers for exports from Egypt. Last year the total export for IT was $1.1 billion; this year, it is set to be $1.5 billion, so we have healthy growth, despite the challenges that Egypt has faced over the last two years.”

ElKady says that the IT sector is predicted to be worth $ 1.8 billion next year, so as part of ITIDA’s mission to support the IT sector it is looking to open up new markets. The organisation has launched a ‘Go To Africa’ campaign, to encourage links with Africa, and the Egyptian Minister of Communication and Information Technology has attended ITU this week, which is co-located with GITEX, to meet multinational companies to discuss the country’s potential as a hub for growth.

“We are very much focusing on creating market opportunities for local IT companies; they are growing faster than the Egyptian market, and the applications that they are developing for the Egyptian markets can be applied for other countries as well, so we are very focused on opening new markets for them,” ElKady says.

“We have a clear strategy and vision, that ICT is going to be the catalyst for economic growth in Egypt. We are in discussions with all of the government entities to ensure that ICT is going to play the highest role when it comes to transforming the country.”

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