20 September 2012
6 Million EGP Promoting ICT Industry to Create Job Opportunities in Upper Egypt

Minister of Communications and Information Technology, Mr. Hany Mahmoud approved to allocate 6 Million EGP to promote IT exporting companies working in Upper Egypt.
The allocation comes in the framework of a new Initiative launched by the Information Technology Industry Development Agency (ITIDA), aiming at creating new job opportunities for youth in Upper Egypt governorates.   

The main drive for this initiative was the growing demand of ICT companies working in IT export from ITIDA to enhance and develop their business, expanding their activities through establishing new branches outside Greater Cairo particularly in the governorates of Upper Egypt.
In this context, Mr. Hany Mahmoud, declared that the issue of developing  ICT companies potentials and enhancing them to provide more distinguished  job opportunities for Egyptian youth through spreading and deepening the IT culture in all Egypt governorates comes in top priorities of MCIT and its affiliates in the coming phase.

Mr. Mahmoud added also that ICT sector is capable of creating more distinguished job opportunities as it includes a number of related industries described as labor- intensive industries.
This comes in parallel with the urgent need for highly qualified Egyptian youth capable of undertaking the competition in both local and the international markets.  This is the main element that represents a real added value of which Egypt boasts among the competitive countries.

ITIDA, in preparing to launch this initiative, has conducted a detailed study to estimate the required cost to create a job opportunity in a company working in IT outside Greater Cairo. This study revealed that creating a job opportunity in an IT company working outside Greater Cairo costs about 63.000 EGP.

According to the international studies carried out in competitive countries in the scope of IT services, one job opportunity provides about 4 indirect job opportunities. 

Thanks to this initiative, ITIDA is to support companies in Upper Egypt with the amount of 15.000 EGP for each job opportunity provided by the company, with a maximum of 100 employees in each company.

CEO of ITIDA, Mr. Yasser El Kady, pointed out that this initiative comes in the framework of ITIDA’s aim to encourage investments in IT outside Greater Cairo and to boost IT industry in all the governorates as well.

ITIDA specified a number of terms and conditions to be met, as the company must be one of the companies working in exporting IT services. Also, the number of the employees in the company must be 20 or more.

In addition to this, ITIDA is to conclude agreements with companies which fulfill the required conditions of getting this enhancement, provided that the beneficiary company didn’t obtain any other support in the some scope from any other entity before signing the agreement or during its validity period.

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