Egypt is aiming to reach $9 billion in digital services exports by 2026 after closing at $4.9 billion last year, as it continues to push ahead with its national strategy aimed at doubling the revenue of tech-enabled offshoring services.
In a review meeting held on Tuesday, Prime Minister Mostafa Madbouly held discussions with the Minister of Communications and Information Technology Amr Talaat on the developments of the plan, which aims to increase the volume of Egyptian exports of information technology products and services.
The strategy also looks to enhance Egypt's competitiveness in the fields of research and development and value-added services, while contributing to accelerating the growth of the knowledge economy.
During the meeting, Talaat shared the initiatives taken to raise the skill levels of graduates and workers in the outsourcing industry.
He added that the number of workers specialized in exporting these services will reach about 550,000 in 2026.
These initiatives are designed to increase the supply of skills and cadres specialized in various outsourcing fields, in addition to language programs and personal, administrative, and leadership skills.
He added that the ministry has also assisted businesses in implementing strategic programs.
These included in-kind incentives, external marketing initiatives aimed at enhancing Egypt’s global perspective, and internal marketing strategies designed to enhance the reputation of the call center sector in Egypt among graduates.
Launched in February 2022, the strategy was aimed at increasing the export revenue of tech-enabled offshoring services, with a 19 percent compound annual growth rate, a ministry press release stated at that time.
It is intended to provide a full suite of incentives to attract investments and boost the country’s competitiveness in R&D and value-added services, the release added.
At the launch of the strategy last year, Talaat revealed the ministry multiplied its training budget 22 times, helping achieve a 50-fold increase in the number of trainees.
At 16 percent growth rate, ICT is the highest-growing state sector in Egypt, the minister had noted, adding that the sector contributes to the gross domestic product by 5 percent, but he stressed that they intend to achieve 8 percent within three years.
The strategy stands on three main pillars: talent development, ecosystem development, and marketing and sales, the release added.
Source: https://www.arabnews.pk/node/2340506/business-economy