FINANCIAL NEWS

Egypt to boost outsourcing exports

29 Sep 2010

(MENAFN) Egypt’s information technology minister said that the country is hoping to see a tenfold increase in exports from its growing outsourcing industry by 2020 and will boost its focus on information technology entrepreneurship ,Reuters reported.

Speaking at an investment conference in Cairo, Tarek Kamel said Egypt’s information technology sector has made impressive gains over the past few years, bringing in almost $1.1 billion in exports so far in 2010. Officials hope that level will rise to $10 billion by 2020.

Kamel said that outsourcing, call centers and other support services were creating about 40,000 jobs per year, but that Egypt was no longer content with simply focusing on the call center business.

He said the real value was in creating entrepreneurship in the information technology sector, namely through co-ownership of intellectual property.

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