SHARM EL SHEIKH, EGYPT – The recent Sharm El Sheikh Summit for Peace between the Palestinians and Israelis is expected to increase global companies’ confidence in Egypt’s outsourcing sector.
Industry experts and officials believe that the political and security stability in the Middle East will encourage them to grow their business and invest more in Egypt.
Investor Confidence Will Bolster the Outsourcing Industry
Maggi Dewedar, eNable Outsourcing CEO, and Amr Mahfouz, former Information Technology Industry Development Agency (ITIDA) CEO, both agree that the peace summit will cement “Egypt’s image as a safe and stable location” in the investors’ minds.
For Dewedar, a stable environment means lower insurance costs and risks. It can also influence their decision to open larger offices rather than the typical pilot centers.
She also emphasized the importance of providing strong workforce training and making it easier for companies to set up and expand operations.
Further, she encouraged the government and ITIDA to leverage the peace summit to promote Egypt’s competitive advantage in European and American markets.
If stability persists, Egypt can transform into a leading regional hub for providing outsourcing services, particularly in the fields of technical support, customer service, and data analysis.
Mahfouz supports her sentiments, adding that it could also boost information and communications technology (ICT). Promoting investments in these areas will enable Egypt to become known for producing software and technical solutions, not just for its competitive young workforce.
