• The Regulator hosted a Swiss business delegation at Smart Village with visits to IBM and Concentrix operations.

• Egypt's IT sector grew 14.4% in fiscal year 2023/2024, the fastest-growing state sector for six consecutive years.

• Since launching its Offshoring Strategy, Egypt signed 74 agreements with companies.

Egypt's Information Technology Industry Development Agency (ITIDA) hosted a Swiss business delegation at Smart Village this week, it announced October 22. The visit, organized with Geneva Chamber of Commerce, Industry and Services (CCIG), Swiss Chamber of Commerce in Egypt (SwissCham Egypt), Egyptian Commercial Service (ECS), and General Authority for Investment and Free Zones (GAFI), brought Swiss executives to explore Egypt's digital economy and offshoring capabilities.

Egypt is Switzerland's largest export market in Africa, with bilateral trade reaching CHF 1.86 billion ($2.15 billion) in 2022, according to data from Switzerland's Federal Department of Foreign Affairs. The delegation visit builds on this foundation, targeting opportunities in technology services and business process outsourcing.

Discussions highlighted Egypt's skilled workforce, cost-effective environment, and strategic location connecting Europe, the Middle East, and Africa. The timing is strategic. The sector recorded 14.4% growth during fiscal year 2023/2024, outpacing all state economic sectors and becoming the fastest-growing sector for six consecutive years, according to ITIDA.

Egypt's IT sector is creating sustainable employment in outsourcing services with a focus on higher-value offerings. More than 300,000 jobs now exist in offshoring (with over 30% women), with plans to reach 500,000 by 2026. The country aims to double outsourcing export revenue to $9 billion by 2026, generating over 200,000 direct export jobs in customer experience, IT services, and business support.

Since launching its Strategy for Offshoring Industry, Egypt has signed 74 agreements with local and global companies. Over 20 companies are opening outsourcing centers in Egypt for the first time while 50 are expanding. High-growth companies are drawn by Egypt's location, talent pool, cost-competitiveness, and government support.

The Smart Village tour showcased successful multinational operations at IBM and Concentrix, demonstrating how global companies leverage Egypt's talent and infrastructure for regional and global service delivery. The Swiss delegation's visit signals growing international recognition of Egypt's transformation into a technology player bridging European markets with African opportunity through digital innovation and skilled human capital.

Hikmatu Bilali