Egypt scales outsourcing charts
ITIDA boss claims cost of doing business in Egypt is "significantly lower" than elsewhere
Egypt's Information Technology Industry Development Agency (ITIDA) is adamant that the country is becoming even more attractive as an outsourcing hotspot now that companies are so focused on cost savings.
Changes in the economic climate during the past year have led to cost factors having a huge bearing on the decision-making process of companies with outsourcing aspirations.
That has played into the hands of the Egyptian outsourcing market, according to Dr. Hazem Abdelazim, CEO of ITIDA, who claims that the cost of doing business in Egypt is "significantly" lower than other emerging markets.
"This is partly owing to the fact that the Egyptian pound is relatively stable against the US dollar, preserving cost- competitiveness and encouraging foreign investment," he explains. "In addition, globally low telecom costs with ready access to VoIP at decreased global internet rates contribute to foreign investors' return on investments."
Abdelazim says the country has also implemented a number of tariff reforms, freeing Egypt's markets for foreign trade and local manufacturing.