“Egypt saw the biggest rise on the continent, as liberalization and privatization attracted new foreign investment in a wide range of industries. the Inward FDI Performance Index, ranked Egypt in the thirty third place in 2006 from 102 in 2004” UNCTAD, World Investment Report 2007
“Egypt, the top reformer in the region and worldwide, greatly improved its position in the global rankings on the ease of doing business. Its reforms went deep.” Doing Business 2007, World Bank and IFC
“Egypt has made impressive progress in reforming its investment policies in recent years, the ambitious reform program started in 2004 has helped spread the benefits of FDI more widely across the economy. Barriers to entry have been eased for both domestic and foreign investors” DOECD, the investment policy review of Egypt 2007” July 07
“Egypt ranks above Eastern European locations such as the Czech Republic, Hungary and Poland as an outsourcing destination. Global information communications technology (ICT) companies such as Cisco, Google, IBM, Microsoft, Oracle and Orange Business Services are already exploiting Egypt’s IT talent pool.”The Yankee Group Report 2007
“The demand for Egyptian outsourced offshore call centers is expected to grow by 50 percent over the next three to four years. Egypt could see its call center industry expand more than fourfold from 1,500 seats in 2005 to 7,000 by 2010” Datamonitor
“Cairo deserves kudos for getting one thing right: economic reform.” Wall Street Journal Editorial, September 07
“Over the last two years, Egypt has accelerated reforms aimed at tackling impediments to higher growth and employment creation. Implementation of a broad range of reformsaimed at modernizing government and boosting private sector activity, and a favorable external environment, have contributed to macroeconomic stability.” IMF -Executive Board’s Public Information Notice (PIN) - July 11, 2006
“We have been examining the Egyptian market for the last few years. Our expansion in Egypt and our capacity to service our clients all over the Middle East region will be a valuable asset to the Teleperformance Group’s growth strategy in the EMEA region.” Christophe Allard, Chairman of the Board of Directors of Teleperformance
“The government of Egypt has prepared the economy for the new millennium through economic reform and massive investments in communications and physical infrastructure.” B.Ramalinga Raju, Satyam’s founder and chairman B.Ramalinga Raju, Satyam’s founder and chairman
“The Egyptian economy is benefiting considerably from a series of policy reforms, and economic prospects appear more favorable now than for a decade or more. [Reforms] have raised confidence, as reflected in a surge in FDI and a booming stock market.” Institute of International Finance, Summary Appraisal: Egypt
“Egypt has taken giant strides ... improvements in the investment framework, make it an attractive investment location … A number of international investors interviewed have put Egypt ‘on the list’ in considering their company’s future investment locations.” UNCTAD, Investment Policy Review of Egypt 2005
“The government of Ahmed Nazif … has clearly played a role in the revitalization of the economy. Some important reforms … have been set in train. Even the privatization program … has been revived.” Moody’s Egypt Credit Opinion, August 2005
Case Studies
What do two major call center operators, a global telecom giant, a speech-to-text service provider and a leading offshore corporation all have in common? The four have recognized the potential evident in Egypt’s economic environment and are aiming to take full advantage.