Friday, January 30, 2009

BWI: Egypt to Strengthen Ties with India at NASSCOM’s Leadership Forum 2009

Press release from Business Wire India
Source: Information Technology Industry Development Agency (ITIDA)
Friday, January 30, 2009 01:20 PM IST (07:50 AM GMT)
Editors: Business: Business services, Information technology, Telecommunications; Technology
Release no: 19097
Egypt to Strengthen Ties with India at NASSCOM's Leadership Forum 2009

Mumbai, Maharashtra, India, Friday, January 30, 2009 -- (Business Wire India) -- Egypt, one of the world's fastest growing locations for global outsourcing, will be showcasing its ICT industry at NASSCOM's India Leadership Forum in Mumbai from February 11-13, 2009. The Forum has long been India's premier global meeting for the IT-BPO industry and this year sees Egypt's Information Technology Development Agency (ITIDA) as a platinum sponsor.

Egypt will be strongly represented through its own country session and will have a delegation of both multinational and local Egyptian outsourcing companies, including Xceed, Vodafone, Teleperformance and Raya, on-hand to demonstrate Egypt's strong position as a global service delivery location and a leading partner of India's outsourcing industry.

Mr. Amin Khaireldin, Strategic Advisor and Board Member of ITIDA, along with other delegates from ITIDA, will be speaking at the NASSCOM Leadership Forum on the emerging importance of Egypt in the global outsourcing market.

Commenting on the benefits of Egypt as a global service delivery location, Mr. Amin Khaireldin said, "Egypt is well placed to be the next location for geographical expansion for Indian outsourcing companies and we are proud to be associated with NASSCOM. Egypt's competitive advantages position the country as a strategic location for global ITES/BPO and as an ideal gateway especially to Middle Eastern and European continental markets, which remain largely untapped."

Currently Indian direct investment in Egypt totals $800m in more than 200 Egyptian companies and with its relatively large and burgeoning talent pool of IT professionals, the Egyptian outsourcing sector has received strong support from its government to develop the industry further. It is projected that the Egyptian outsourcing sector will generate revenue of more than $1 billion by 2010, four times the 2005 revenue.

Last year, ITIDA signed a number of Memorandum of Understandings and Letter of Intents with Indian bodies and companies including NASSCOM and three of India's top five IT/BPO companies to extend the collaboration between Egypt and India.

Egypt has been making huge strides in the world of outsourcing and according to Yankee Group¹ "Egypt is by far the Middle Eastern country currently best positioned to take advantage of the boom in outsourcing. It has a relatively young population, a multilingual workforce, a large and burgeoning talent pool and strong government support for outsourcing."

Egypt was also named the Offshoring Destination of the Year (2008) by the UK's National Outsourcing Association (NOA) and was recently listed in Gartner's Top 30 global outsourcing destinations.

About ITIDA:

The Information Technology Industry Development Agency (ITIDA) is a governmental entity affiliated to Egypt's Ministry of Communications and Information Technology. It is responsible for growing and developing Egypt's position as a leading global outsourcing location by attracting foreign direct investment to the industry and maximizing the exports of IT services and applications.

Located in the heart of the modern business environment at Smart Village, the six hundred acre business park on the outskirts of Cairo, ITIDA is a self sustainable entity that drives the IT industry in Egypt and raises awareness among the Egyptian people of the benefits and use of ICT to advance socio-economic welfare of the whole community.

¹Yankee Group, "Can Middle Eastern countries fulfill the 'Eastern' promise?" published in July 2008

Ahmed Reda, Media & Communication Manager, Information Technology Industry Development Agency (ITIDA), + 202 534 51 85,
Deepa Jayaraman, IPAN Public Relations, Mumbai, +91 (022) 40661755,
Ajith Henry, IPAN Public Relations, Mumbai, +91 (022) 22661755,


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