Egypt signs MoUs with 55 companies to expand offshoring & digital services operations

Egypt has signed Memoranda of Understanding with 55 multinational and domestic companies to expand their offshoring and digital services operations in the country, in agreements expected to generate more than 70,000 jobs over the next three years.

The MoUs were signed between the Information Technology Industry Development Agency (ITIDA) and participating companies on the sidelines of the Global Offshoring Summit, held in Cairo under the patronage of Prime Minister Mostafa Madbouly.

The agreements include both the expansion of existing service centers and the establishment of new delivery hubs for global clients. According to officials, 39 companies will expand their current operations in Egypt, while 16 companies will enter the Egyptian market for the first time.

Prime Minister Madbouly said the move reflects government efforts to strengthen Egypt’s position as a competitive global hub for outsourcing and digital services. He emphasized directives from President Abdel Fattah El-Sisi to continue supporting the ICT sector due to its role in attracting foreign investment and contributing to economic growth.

Minister of Communications and Information Technology Amr Talaat highlighted Egypt’s evolving role in the global offshoring market, noting that the sector has been growing at rates between 14% and 16% annually, far above national economic averages.