Cairo: Prime Minister Mostafa Madbouly on Sunday, November 9, 2025, witnessed the signing of several memoranda of understanding between the Information Technology Industry Development Agency (ITIDA) and 55 international and local companies to open new offices or expand existing operations in Egypt. The agreements, signed on the sidelines of the Global Offshoring Summit, aim to create 70,000 new jobs in the country's information and communication technology (ICT) sector.
According to State Information Service Egypt, ICT Minister Amr Talaat and foreign ambassadors attended the signing ceremony, alongside executives from multinational and Egyptian firms. Madbouly said the government is committed to supporting the ICT sector by providing incentives and facilities to attract more investment, leveraging Egypt's infrastructure and skilled workforce.
He added that President Abdel Fattah El Sisi continues to direct efforts to strengthen the sector's role in driving economic growth, particularly in outsourcing services where Egypt enjoys strong competitiveness.
Talaat said the national 'Digital Egypt' strategy, launched in 2019, seeks to transform the ICT sector from a service provider to both a service and production hub. The plan includes a dedicated outsourcing industry strategy that aims to quadruple Egypt's global share in the sector by making it a destination known for talent, flexibility, and innovation.
The minister noted that the ICT sector's contribution to GDP has nearly doubled over the past decade, growing three to four times faster than the national average. While the Egyptian economy expanded by 4.4% in the last fiscal year, the ICT sector grew between 14% and 16%.
Talaat added that nearly one million Egyptians receive digital skills training annually to prepare them for the digital economy, and that the government has invested $6 billion in digital infrastructure upgrades. These efforts have positioned Egypt as Africa's leader in internet speed and among the continent's lowest-cost internet markets.
He highlighted the extension of fiber-optic networks to 4,500 villages covering 60 million people, enabling companies to hire skilled workers nationwide through remote work.
The minister reaffirmed the government's commitment to maintaining open communication channels with investors from setup to growth stages.
Egypt's competitive advantages- combining a trained workforce, advanced infrastructure, and a strategic geographic location- allow it to deliver high-quality digital services globally at lower operational costs, Talaat said. He added that new incentive packages encourage export-oriented outsourcing activities and support Egypt's position as a key global growth partner for multinational firms.
The minister noted that a similar summit in 2022 led to agreements with 29 companies pledging 34,000 new jobs, a figure that rose to 60,000 by the end of 2024. This year's summit marks a new wave of expansion, with 39 firms enlarging existing centers in Egypt and 16 others entering the market for the first time.
'The future of global digital services begins in Egypt,' Talaat said, emphasizing the role of Egypt's young digital talent in providing innovative, cross-border services.
The MoUs were signed by ITIDA CEO Ahmed El-Zaher and representatives of the participating firms, including Accenture, ADCB, Almaviva, Alshaya group, Arcsen, Atals Copco, Capgemini, Celfocus, Coca-Cola, Conectys, cyber50, Deloitte, DXC, E and CX solutions, eClerx, Ericsson, Evolvice, Expleo, Giza systems, Honeywell, HSBC, IBM, IGT solutions, Intelcia, Intellias, Intouch, Iqor, Kraft Heinz, Linkedev, Luxoft, NAOS, Nestle, Noon, Noventiq, PWC, Raya Contact Center, RSA, Seitech, Sigma, Sutherland, task us, Teleperformance, Transcom, TTEC Egypt, VOIS, VXI, WeGO, Xceed, CCI, Mixel-Egypt, FPT, Photonx, Alorica, Advansys, and Maf.