By Mohamed Alaa El-Din
The Telecommunications and Information Technology market is one of the most attractive sectors for investment in the Egyptian market. It is supported by the needs of many government sectors for technological services to improve their performance.
It is also supported by the availability of promising investment opportunities to renew the technological infrastructure, especially as Egypt has not invested in sector improvements in the last five years.
The Egyptian market is characterised by the availability of labour and well-trained technicians, especially in the outsourcing and software sectors, with Egypt classified as a major manpower exporting country. However, the market has been suffering from a state of confusion in the recent period that led to the loss of such investment opportunities.
Many telecommunications sector workers and officials agree on the availability of investment opportunities, but the ambiguity of vision and the lack of a strong legislative structure may squander those opportunities.
According to officials, the market has recently been suffering from a decline in domestic demand and migration to the Gulf and European markets, such as Germany. Additionally, low availability of foreign currency has been frustrating for investors.