IDSC: Egypt Is Turning Into Global Outsourcing Destination
Egyptian Cabinet's Information and Decision Support Center (IDSC) issued a new infographic reviewing outsourcing services in Egypt.
IDSC's infographic showed 35 global centres for outsourcing services in Egypt providing 34k jobs and are planning to triple their size in Egypt over the next 2-3 years, in November 2022 Egypt signed 29 agreements with 29 global companies to provide outsourcing services.
The latest infographic noted that the reasons why international companies prefer Egypt to provide outsourcing services are due to many factors including growing and training workforce, 600k college graduates enter labour market annually in addition to 200k Egyptian MCIT targeted to training during 2022 with EGP1.1bn investment.
It further mentioned that advanced infrastructure is another factor, adding that Egypt spent More than $2bn to develop internet infrastructure besides providing More than 1mn office spaces and more than 8 high tech and knowledge parks.
It also added that Egypt is turning into a global outsourcing hub thanks to financial and taxes incentives offered by the State such as lower labour costs compared to neighbouring countries in addition to offering a 30% to 50% corporate tax reduction.