One of the emerging destination in outsourcing is Egypt and it is burgeoning offshoring sector is expected to generate $2 billion in revenues toward 2013. The figures is projected to climb to $10 billion in 2010. The communication Minister of the Egypt told the employees at a 1000 set call center facility. They are working in the ITIDA or the Information Technology Industry Development Agency and the ministry on the incentives package. They are expanding in the technology parks for the offshoring industry. To the stream global services clients’ eight hundred of the total 1000 seats are already filled which includes the satellite radio station Syrius-XM. The company will expand further in the Egypt and the Brazil and it would begin operations in China with the 2000 staff.
They are starting to look at new sites tomorrow. The center here is pretty much sold out, they will need the another center sometimes this summer and the probably another one by late in the year or early in 2011. The stream has 30,000 staff in 22 nations and it is based in the Boston. It began in the operations in the Egypt in 2009 with the 50 workers as a temporary establishment. It expects as many as 5,000 staff to work in the Cairo and the other cities in Egypt within the next two to three years. The Egypt has made an entry into the lucrative offshoring market, it is still pales in the comparison to what the India and the Philippines have to offer the firms that require outsourcing.l The huge talent pool of the skilled laborers and the cost efficiency of the India are unparalleled anywhereu in the world and the subcontinent is expected to lead the outsourcing industry for the next twenty years.
The outsourcing is a rapidly growing sector for the Egypt since it has a pool of the graduates who are conversant in the German, Spanish, French, Italian and Arabic and English. The plethora of the language expertise in the Egypt is certainly an advantage. The Incentives for the companies go up drastically when the 3000 Egyptian employees are hired. The outsourcing firms now provide back office financial and the counting services in the country.
The board member was quoted that they do the incentives to share the risk with those who are coming. They speak bow when they are encouraging the people to come for the financial and the counting because they graduate every year 60,000 accountants from the universities. The agency also helps pay for the transportation and the rent. The largest client for the stream, the syrus has opted to select Egypt as its outsourcing destination in the order to the diversity from a more dominant presence in the Philippines and the other locations for the offshoring.
REFERENCE:
http://outsourceportfolio.com/egypt-offers-incentive-packages-burgeoning-offshoring-industry/
