ITIDA: Egypt's IT exports hit $3.67B

CAIRO - 4 February 2019: Acting CEO of the Information Technology Industry Development Agency (ITIDA) Maha Rashad said Monday Egypt is one of the main attractive destinations to major technology companies when it comes to customer service and markets, pointing out that Egypt's exports of information technology and its services hit $3.67 billion in 2018.

During a meeting with a delegation of representatives of German companies and Parliament (Bundestag) members, Rashad said last year witnessed an increasing interest by German companies to expand and establish joint services centers in Egypt in a number of various technology fields, citing Software Quality Systems AG (SQS) consultancy company which signed an agreement with ITIDA to export technology services through the company's global services center in Egypt.

She said she is looking forward to enhancing cooperation and exchanging expertise between German technology companies and their Egyptian counterparts.

ITIDA is totally ready to offer all support to attract more German IT companies to invest in Egypt particularly those that depend on high added value services, she stressed.

The meeting covered available investment opportunities in the communication and IT sector in Egypt and ways to promote cooperation between the two sides, asserting that Egypt enjoys numerous competitive advantages which makes it an attractive market to investment and business.

The German delegation's visit to ITIDA is part of an official visit by German Federal Minister for Economic Affairs and Energy Peter Altmaier to Egypt.