The speakers of the intensive were Anastasia Muravyeva, Senior Specialist - Expert of the Economic Department of the Russian Trade Mission in Egypt, Nikolay Tulsky, Consultant of the Russian Trade Mission in Egypt, Vasily Zudin, Deputy Director of the Center for Global IT Cooperation, Rustam Vakhitov, Co-Founder of the BEPS Academy, Mona Mahumd, Director of Cairo ICT, Hoda Nafal, Business Development Manager, and Roman Shamraev, Expert - Analyst of the Center for Global IT Cooperation.
The Trade Mission staff devoted their presentation not only to the economic situation in Egypt (especially in the ICT sector), but also to the cultural peculiarities of doing business in this Arab country. For example, Egyptians prefer face-to-face meetings to online negotiations, so one of the criteria for business success in Egypt is physical presence.
It was also noted that in the ICT sector, the need for a foreign company to have an agency agreement with an Egyptian company has been legislated.
It is also important to clarify that Egypt is committed to localization of production, offshoring and outsourcing of business processes in the IT sector, seeking long-term cooperation and investment attraction," added Anastasia Muravyeva. Therefore, it is important for companies that want to enter the Egyptian market to realize that simply providing a solution will not work, it is necessary to focus on comprehensive local cooperation.
The Center for Global IT Cooperation is planning to organize a digital mission to Egypt in November to coincide with the dates of the Cairo International Technology Exhibition and the Cairo ICT Forum, the largest specialized event in North Africa, Vasily Zudin said. He recalled that Egypt's recent accession to BRICS opens up additional opportunities for cooperation with Russia. This is evidenced by the latest statistics: according to the Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS), the volume of trade between Egypt and the BRICS countries increased by 15% to $30.2 billion in the first 8 months of 2024. ; At the same time, investments in the Egyptian economy are also growing, and Russia is no exception - at the end of the fiscal year 2022-2023, our country invested $125.9 million in Egyptian projects.
"Egypt is a very promising and growing market, which is also favorable to Russian IT business. Therefore, we recommend domestic high-tech companies to pay attention to this country and, of course, to start their acquaintance with it by visiting Cairo ICT, which this year is held under the personal patronage of Egyptian President Abdel Fattah al-Sisi, which emphasizes the level and importance of this event for the country," he concluded.
This was echoed by Mona Mahoumd, Director of Cairo ICT, who also participated in the webinar. She emphasized that this year's exhibition is attracting a lot of attention and a higher number of exhibitors, including high-profile ones, are expected, so all Russian companies that want to enter the IT market in Egypt simply have to take part in this great event.
Business Development Manager Hoda Nafal added that Russian companies are welcome in Egypt. And government regulators as well as companies are ready to meet with their Russian counterparts and discuss further formats of cooperation.
The Center for Global IT Cooperation conducts digital missions for innovative domestic companies to various countries around the world on a regular basis. More information about the Digital Mission to the Egypt and other events can be found on the Center's website in the Exporting Digital section: https://cgitc.ru/export/.
Interested parties can receive the webinar materials by filling out the form: https://forms.yandex.ru/cloud/671a2db7068ff088ec470a97/
The Trade Mission staff devoted their presentation not only to the economic situation in Egypt (especially in the ICT sector), but also to the cultural peculiarities of doing business in this Arab country. For example, Egyptians prefer face-to-face meetings to online negotiations, so one of the criteria for business success in Egypt is physical presence.
It was also noted that in the ICT sector, the need for a foreign company to have an agency agreement with an Egyptian company has been legislated.
It is also important to clarify that Egypt is committed to localization of production, offshoring and outsourcing of business processes in the IT sector, seeking long-term cooperation and investment attraction," added Anastasia Muravyeva. Therefore, it is important for companies that want to enter the Egyptian market to realize that simply providing a solution will not work, it is necessary to focus on comprehensive local cooperation.
The Center for Global IT Cooperation is planning to organize a digital mission to Egypt in November to coincide with the dates of the Cairo International Technology Exhibition and the Cairo ICT Forum, the largest specialized event in North Africa, Vasily Zudin said. He recalled that Egypt's recent accession to BRICS opens up additional opportunities for cooperation with Russia. This is evidenced by the latest statistics: according to the Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS), the volume of trade between Egypt and the BRICS countries increased by 15% to $30.2 billion in the first 8 months of 2024. ; At the same time, investments in the Egyptian economy are also growing, and Russia is no exception - at the end of the fiscal year 2022-2023, our country invested $125.9 million in Egyptian projects.
"Egypt is a very promising and growing market, which is also favorable to Russian IT business. Therefore, we recommend domestic high-tech companies to pay attention to this country and, of course, to start their acquaintance with it by visiting Cairo ICT, which this year is held under the personal patronage of Egyptian President Abdel Fattah al-Sisi, which emphasizes the level and importance of this event for the country," he concluded.
This was echoed by Mona Mahoumd, Director of Cairo ICT, who also participated in the webinar. She emphasized that this year's exhibition is attracting a lot of attention and a higher number of exhibitors, including high-profile ones, are expected, so all Russian companies that want to enter the IT market in Egypt simply have to take part in this great event.
Business Development Manager Hoda Nafal added that Russian companies are welcome in Egypt. And government regulators as well as companies are ready to meet with their Russian counterparts and discuss further formats of cooperation.
The Center for Global IT Cooperation conducts digital missions for innovative domestic companies to various countries around the world on a regular basis. More information about the Digital Mission to the Egypt and other events can be found on the Center's website in the Exporting Digital section: https://cgitc.ru/export/.
Interested parties can receive the webinar materials by filling out the form: https://forms.yandex.ru/cloud/671a2db7068ff088ec470a97/
