During a media round table held on the sidelines of the Global Solutions Centre inauguration on Thursday 23 June, 2022.
The newly opened Global Solutions headquarters is established by Majid Al Futtaim in partnership with the Information Technology Industry Development Agency (ITIDA), and with the support of Egypt’s Ministry of Communications and Information Technology (MCIT) and the General Authority for Investments and Free Zones (GAFI).
The centre focuses in its first phase on serving Al Futtaim’s affiliated companies that operate in 17 countries in the Middle East, Africa, and Asia with a plan to expand in the Egyptian market and regionally in the coming three years.
The CEO of Global Solutions Centre Khaled El-Chidiac told Ahram Online that Egypt is in the top-five list in terms of Majid Al Futtaim investments in the Middle East with total investments of EGP 26 billion and ranks second in the region in labour force after the UAE with 12,000 employees.
He added that Egypt was picked as the headquarters of the centre mainly due its continuing advancement of its infrastructure as well as the cheap labour cost compared to other markets in the region.
El-Chidiac stated that the centre plans to extend its services to other companies in and outside Egypt within four years.
During the inauguration event, Mohamed Abdel-Wahab, CEO of GAFI, said that Majid Al Futtaim Global Solutions’ decision to invest and open its headquarters in Egypt to outsource its operations to the region confirms Egypt's potential as an investment destination, especially in light of the available skills and young talent.
“This is in line with the government’s vision to further invest in local talent, providing training and qualification programmes that continue to build on the necessary capabilities, using state-of-the-art technology that meets the demand of the labour market,” he added.
“We are thrilled to witness the opening of Majid Al Futtaim’s Global Solutions headquarters right here, in Egypt. The centre has contributed to creating around 550 jobs in the fields of shared services and outsourcing, a testament to the competencies and talents of Egypt’s youth – the backbone of this industry. ITIDA is looking forward to attracting more global service providers and witnessing further expansion plans for multinational companies in the offshoring industry, especially in tier-2 cities and governorates, which also enjoy an abundance of skilled talent at a competitive cost,” said Hazem Nabil, ITIDA vice president for Electronic Transactions Security.