Egypt showcases digital ambitions at AmCham Investment Conference
During the session, El-Zaher underscored Egypt's expanding role in the global offshoring landscape, citing its strategic geographical location, multilingual and cost-effective talent pool, and continued public investment in digital infrastructure and innovation ecosystems.
'Egypt offers an exceptional platform for investors and technology companies aiming to scale regionally and globally,' said El-Zaher. 'With over 760,000 university graduates annually—including 50,000 in ICT, approximately 171,000 in finance and accounting, and 28% in STEM fields—combined with 80% foreign-language proficiency among the workforce, Egypt stands out in the global services market.'
He added that Egypt delivers cost savings of up to 68% in outsourcing operations —across contact centers, business process services, IT, engineering R&D, and embedded software—compared to traditional outsourcing destinations.
A Mature Destination for Services Delivery
El-Zaher also emphasized ITIDA's strategic priorities: attracting foreign direct investment (FDI), accelerating digital skills development, and advancing Egypt's IT offshoring ecosystem.
'Egypt is already home to more than 205 global service delivery centers—cementing its position as a leading offshoring destination and a rising hub for high-value digital services,' he said.
Scaling Egypt's Digital Talent Pipeline
ITIDA CEO spotlighted key government-led programs aimed at equipping youth with market-ready digital skills. These initiatives, driven by the Ministry of Communications and Information Technology (MCIT) and delivered through affiliated institutions such as the Information Technology Institute (ITI) and the National Telecommunication Institute (NTI), aim to train 500,000 individuals in 2024–2025.
'Our 'Train-to-Hire' model ensures talent isn't just trained—it's job-ready,' El-Zaher noted. 'Through close collaboration with institutions like ITI and NTI, we're closing the gap between education and industry demands.'
A High-Profile Industry Dialogue
The panel featured an influential lineup of speakers:
Mr. Ahmed Yehia, CEO of Fintech and Digital Lifestyle at e& Egypt
Ms. Amal Enan, Managing Partner at 500 Global
Mr. Todd Wilcox, Co-Chair of AmCham's Banking Committee and CEO and Deputy Chair of HSBC
Mr. Mohamed Refaie Ahmed, Global Enterprise Networking Services Practice Leader at IBM
The discussion was moderated by Mr. Hossam Seifeldin, Co-Chair of AmCham's Digital Transformation Committee and CEO of Capgemini Egypt.
Towards Resilient Growth
Held under the theme 'Towards Resilient Growth: Egypt's Future as an Investment Hub', the AmCham conference brought together a distinguished audience of policymakers, business leaders, and global investors. The event explored Egypt's growing competitiveness as a destination for foreign capital and innovation-driven investment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
a day ago
- Zawya
Egypt: SCZone signs $52.6mln deals with Chinese companies for textile projects
Arab Finance: The General Authority of the Suez Canal Economic Zone (SCZone) signed three contracts for new projects with Chinese companies specializing in the textile and ready-made garment industry, according to a statement. As a part of the SCZone's first roadshow for fiscal year (FY) 2025/2026 in China, the authority's Chairman Waleid Gamal El-Dien penned the deals with a total value of $52.6 million (EGP 2.58 billion). These projects are expected to contribute to providing 3,500 direct job opportunities. Changzhou East Noah Printing and Dyeing Co. Ltd. will develop a textile facility on an area of 80,000 square meters, with an investment of $20 million, fully self-financed by the company. The project will provide around 1,000 direct job opportunities. The facility covers all stages of textile production, from ultra-fine polyester fiber yarns through knitting, printing, and dyeing, to final finishing. It will produce blankets, bedding sets, and quilts, with a daily production capacity of 80 tons and an annual capacity of up to 8 million pieces of home textiles. The factory will allocate 90% of its production for export, while the remaining 10% will meet the local market's needs. Meanwhile, the second project will be built by Changzhou Golden Spring Textile, a China-based integrated textile company, with an investment of $24 million. Spanning an area of 85,000 square meters within the Qantara West Industrial Zone, the project will secure 1,000 jobs. The factory aims to produce blankets, bedding sets, and quilted comforters, with an annual capacity of 15,800 tons of fabric, in addition to 2 million sets of finished products. It will export 90% of its output to the Middle East, North Africa, Europe, and the Americas, while allocating 10% to the local market. Jiangsu Sainty Corporation Ltd. is set to establish a ready-made garment factory in the Qantara West Industrial Zone, on an area of 40,000 square meters, with investments totaling $8.6 million. The project aims to provide 1,500 direct job opportunities, directing its full production to export to foreign markets. Gamal El-Dien highlighted that the three agreements bring the number of Chinese projects contracted within the Qantara West Industrial Zone to 18. He added that the textile sector is a priority sector that the authority aims to localize within its industrial scope, given its ability to integrate with feeder industries and provide job opportunities. Currently, the total number of contracted projects in the Qantara West Industrial Zone stands at 28, with a total investment of nearly $734.1 million. These projects cover a total area of 1.794 million square meters, providing 38,455 direct job opportunities. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
a day ago
- Zawya
Central African Republic Innovates with Nature-Based Solutions and Reaffirms Commitment to Urban Climate Resilience
The World Bank approved today an additional grant financing in the amount of $9.175 million (just over CFAF 5.3 billion) from the Global Environment Facility (GEF) for the Inclusive and Resilient Cities Project in the Central African Republic (PROVIR). This additional financing aims to improve access to climate-resilient infrastructure in the cities of Bangui and Berbérati by financing Nature-based Solutions, including the regeneration of urban forests and the planting of avenues and public spaces. With this funding, about 300,000 people in Bangui and Berberati—including vulnerable groups such as refugees, internally displaced persons, returnees, women, and youth—will benefit from improved living conditions with improved access to flood-safe and erosion-protected infrastructure. "The Central African Republic, which is ranked second in the world in terms of high vulnerability to climate change, is exposed to numerous natural disaster risks exacerbated by deforestation and climate change," said Guido Rurangwa, World Bank Country Manager for the Central African Republic. "Nature-based solutions have great potential for the country. By combining these with grey infrastructure in Bangui and Berberati, they will increase rainwater retention capacity, reducing the risk of flooding and soil erosion. Their multi-purpose nature will also provide many livelihood opportunities ranging from forest products to fishing opportunities." PROVIR is part of the World Bank's programmatic support to the urban development sector in the Central African Republic and adopts an integrated approach. It supports the World Bank Group's climate change and resilience agenda, including the Climate Change Action Plan (2021-2025), which aims to promote green, resilient, and inclusive development and competitive cities. Project preparation benefited from technical assistance and grants from the Global Facility for Disaster Reduction and Recovery (GFDRR), City Climate Finance Gap Fund (Gap Fund), and NBS Invest. Distributed by APO Group on behalf of The World Bank Group.
Zawya
a day ago
- Zawya
Egypt, India discuss expanding industrial, investment partnerships
Egypt - Mohamed El-Shimy, Minister of Public Enterprises Sector, held a meeting with Suresh Reddy, India's ambassador to Egypt, to enhance bilateral cooperation in economic and industrial fields and explore partnership opportunities with companies affiliated with the ministry. At the outset, El-Shimy praised the long-standing and historic ties between Egypt and India, expressing hope to elevate these relations to broader horizons of cooperation. He also highlighted the range of incentives and facilitations that Egypt offers to foreign investors, inviting Indian businessmen and investors to visit the ministry's factories and companies to see their capabilities and investment prospects up close—particularly in sectors identified as priorities for joint collaboration. The meeting discussed potential cooperation in several strategic sectors, including pharmaceuticals—especially active pharmaceutical ingredients and treatments for chronic and complex diseases—as well as textiles, ready-made garments, fertilisers, chemical industries, aluminium, vehicles, and mining. It also touched on the hospitality sector, where partnerships already exist with some Indian companies. El-Shimy and Ambassador Reddy reviewed the portfolio of companies affiliated with the ministry, detailing their areas of operation and the investment opportunities they present. This portfolio offers a solid foundation for potential industrial and commercial partnerships. For his part, Reddy affirmed the depth and strength of Egypt–India relations, describing them as 'historical and rooted in mutual respect and cooperation' across many domains. He expressed his country's interest in further strengthening ties with Egypt, particularly in economic and industrial sectors, noting Egypt's strategic geographic location, modern infrastructure, and significant investment potential. The meeting comes within the framework of the Public Enterprises Sector Ministry's broader strategy to expand international cooperation and global partnerships. This approach aims to enhance the performance of the ministry's affiliated companies, attract foreign direct investment, and increase the added value of Egyptian industries—supporting Egypt's path toward sustainable economic development.
