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Tuesday, 19 January 2021

Local IT companies are eligible through export incentives through ITIDA

IT exports are getting a shot in the arm with export incentives from ITIDA’s annual Export IT program. The program is designed to encourage local IT companies to boost exports, secure their position in existing markets, and increase market penetration capabilities, according to a press release (pdf). Companies eligible for the program will receive direct monetary subsidies of up to 20% of value-added exports based on the company size, capped at EGP 3 mn for companies operating in new tech parks and EGP 2.5 mn for everyone else. Additional incentives will be offered to companies exporting e-commerce, e-gaming, or e-design services, new entrants to the program, and companies operating in governorates other than Cairo, Giza, and Alexandria.

Who is eligible for the program? Approved companies will need to have more than 50% Egyptian ownership, be headquartered in Egypt (only for companies founded before 2016), and export ICT services or IT-enabled services such as call centers.

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