Arab Finance: The Information Technology Industry Development Agency (ITIDA) and the Export Development Fund have signed a cooperation protocol to support and boost Egypt’s exports of technology services by including them in the country’s export development program, the Ministry of Communications and Information Technology said in a statement.
Witnessed by Minister of Communications Raafat Hindi and Minister of Investment and Foreign Trade Mohamed Farid, the signing will contribute to reinforcing the competitiveness of Egyptian exports and expanding their reach to foreign markets.
Under the protocol, electronics design, semiconductors, embedded systems, and mobile technology services will be added to sectors benefiting from the export development program for seven years starting from fiscal year (FY) 2025/2026.
The move will allow technology services companies to benefit from export rebate incentives tied to export growth rates and employment levels, aiming to increase technology exports and attract investments in high-value-added industries.
The ministers also reviewed progress on several joint projects, including a digital platform linking government entities to unify procedures and improve services for investors as part of efforts to enhance the business environment and streamline processes.
The project aims to digitally redesign the investor journey through unified government services and simplified licensing procedures, supporting Egypt’s ranking in ease of doing business indicators.
ITIDA will be responsible for promoting the program locally and internationally, providing technical support, and facilitating company access to the incentives, while a joint coordination committee with the Export Development Fund will be formed within a month to oversee implementation.
Hindi asserted that adding electronics design, semiconductors, and embedded systems to the export rebate program marks an important step in supporting advanced technology industries and strengthening Egypt’s competitiveness in the sector.
He added that Egypt was becoming increasingly attractive as a global hub for electronics design and automotive software companies, supported by a strong talent pool and aligned with the presidential Egypt Makes Electronics (EME) initiative aimed at deepening local manufacturing and attracting global research and development centers.
On his part, Farid said the ministry was working to complete the digitalization of Export Development Fund services as part of efforts to improve export incentive mechanisms and remove regulatory and operational obstacles facing advanced technology companies and data centers.
