The Information Technology Industry Development Agency (ITIDA) has announced a week-long reopening of registration for its Export-IT Program. It is hoped that the move will allow the largest possible number of Egyptian companies working in information and communications technology (ICT) to benefit from the initiative.
The application extension, which now has a 16 April deadline, also aims to curb the impact of the ongoing coronavirus (COVID-19) pandemic on the sector. The agency outlined that the programme’s online application can be downloaded for the procedures to be finished and documents submitted electronically.
Last week, the ITIDA announced that the export support arrangements for companies would be completed for the programme to start in April. Priority will be given to micro and small enterprises, which represent 69 of the total 111 companies that have applied to the programme so far.
Companies eligible for the programme receive a material incentive of 50% of the value added of export earnings during 2018.
The programme was first launched in 2010, with the agency supporting over 185 local companies in previous sessions. The agency has provided these companies with nearly EGP 350m, as the programme contributes to increasing the volume of information technology exports by a total of EGP 6.2bn in revenue.
Export-IT supports ICT exports, channels exporters to increase their competitiveness, and helps reduce export-related costs.