New investments in Egyptian IT market
A large number of major global IT companies, lately participated in Gitex Dubai IT Exhibition, said that they would expand their businesses in Egypt regarding it as a promising market in the region in the coming period. This is due to the massive growth opportunities in the Egyptian IT market owing to the government’s strategy in building IT society.
The officials of these companies regarded the inauguration of the Smart Village as a great leap that would put Egypt on the global software industry chart.
However, 25 Egyptian IT companies participated in Gitex Dubai IT Exhibition where they presented programs in different fields as banks, hospitals, education, marine transportation and programs write-protection. It is expected that the volume of deals during this exhibition would reach $ 30 million.
On February 29, 2004, Egypt would host an international multimedia conference with the participation of 20 countries, said Dr. Adel Khalifa, head of the Educational Software Union. This conference would discuss cooperation between developers in the field of multimedia, said Khalifa.
The conference aims at covering all the elements of software industry whether in cinema, programming, cartoon, or publishing companies to introduce the latest orientations of this industry and how could Egypt make use of it, added Khalifa. Gitex Dubai IT Exhibition witnessed the establishment of the first Egyptian multimedia company with a capital of L.E. 10 million, indicated Khalifa.
The Egyptian products managed to compete those of the global companies, and they also get to big markets in the Gulf, said Mohee Gamal-Addin, head of an Egyptian IT company.
There were meetings that aimed at the distant education and seeking investment opportunities in the IT sector, said Sayed Ismail, Head of the Advanced Technology and Software Council.
The future would be for the smart chips industry, and Egypt would be specialized in this industry due to its well-versed experts, said Ismail. It is a promising industry since it becomes essential in all industries as cellular phones, cars, medical and home sets, indicated Ismail, adding that this field would put Egypt on the global software industry chart.