The federation of Egyptian industries has announced a five-year program to enhance the IT industry and eventually increase its volume from $50 million to $2 billion, reported the Middle East Times weekly.
The program counts on Egypt's edge in the field due to its many skilled people for the industry, especially programmers, as well as the wider market of 21 Arab countries for its products.
The program includes addressing the biggest challenge facing the industry - the high taxes, said the weekly.
A number of international and local IT companies are interested in developing this field, and would be encouraged by lower taxes.
According to a study conducted by the federation, there are 160 IT companies in Egypt, with 10,000 developers, and the best way to give a boost to the industry would be through reducing taxes from 25 to 3 percent on industry products, said the weekly – Albawaba.com
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