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Eitesal SMEs plan to conquer Arab markets

ICT sector contributed EGP 66bn to Egypt's GNP in 2014.
Eitesal Association organized a meeting among small and medium enterprises (SMEs) working in IT sector to discuss opportunities after Sharm El-Sheikh's Economic Summit.

The meeting gathered representatives of 35 SMEs including Eitesal members and companies working in IT and Telecom in Egypt.

Head of Eitesal Association Hazem Al-Tahawi praised the positive attitude by members of the association towards finding marketing opportunities in Arab markets especially in GCC countries.

Al-Tahawi added that according to latest statistics by the Ministry of Communication the IT and telecoms sector in Egypt maintained its stability and development despite the economic turmoil that has been affecting the country for the past 3 years.

In 2014 the growth rate of the sector reached 13% and its contribution to the gross national product increased to EGP 66bn in 2014 from EGP 48bn in 2010.

Participants at the meeting discussed the possibility of forming alliances to enter those markets while stressing the importance of choosing competent and experiences companies to offer comprehensive solutions to those markets.

Eitesal's Executive Director Mohamed Shadeed stated that this meeting is part of a series of meetings organized by the association to cope with the fast-paced technology sector. He added that the next wave in the sector that is changing everything is cloud computing and internet of things; the spending on this new technology will reach EGP 1.7tr in 2015 and more than 30 billion things will be connected by the year 2020.