Egypt’s ITIDA launches 11th round of Export IT to support companies amid pandemic

Egypt’s ITIDA launches 11th round of Export IT to support companies amid pandemic

The Information Technology Industry Development Agency (ITIDA) announced on Monday the launch of a new round of its annual "Export IT“ programme to support IT companies in the domestic market in response to the COVID-19 challenges.

Throughout the past two years, ITIDA has granted IT export incentives on proceeds of value-added exports.

The action aims at supporting local IT companies to develop their resources, enhance competitiveness, and reduce export overheads, ITIDA said in a statement.

ITIDA's CEO Amr Mahfouz said the export incentive package aims to encourage local companies to boost exports, secure their position in existing markets, and increase market penetration capabilities.

Mahfouz added that the approved stimulus comes as part of ITIDA's relief plan to curb the economic impact of COVID-19 and to ensure more aid for small businesses and local IT companies.

"The programme accepts local ICT companies with more than 50 percent of Egyptian ownership, headquartered in Egypt, exporting ICT services, IT-enabled services such as call centre services, consultation, and training services related to the IT industry. ITIDA has excluded the Egyptian IT startup companies that were founded in 2016 or later from "headquartered in Egypt“ condition," Mahfouz clarified.

According to the programme's terms