Information Technology Industry Development Agency (ITIDA) said it is targeting bolstering co-operation with the General Authority for Investment (GAFI) to attract foreign companies to benefit from the new building to be launched in Nasr City Free Zone. The Managing Director Yasser El Kady stated that ITIDA's main target is to attract Foreign Companies in order to benefit from Free Zone advantages representing in a number of tax and customs exemptions, pointing that the free zone provides the operating companies with high exporting opportunities to have an access to the global markets. Moreover, He added to Amwal Al Ghad that the free zone enables the operating companies to market 15-20% of their products and services so as to benefit from both local and global markets. El Kady further confirmed that the facilities provided by the industrial zone provides facilities that encourage the foreign investors to strongly return to the Egyptian market and make the country restore its global IT exporting position. The General Authority agreed to establish a programming building in Nasr City Free Zone to be the first free zone specializing in the field of technology aiming to develop this vital sector which is famous for providing large number of jobs for youth, as well as re-targeting Egypt to its advanced position regionally and internationally in the field of outsourcing, and supporting the first step of transition to the economy Knowledge.
