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But Egypt also faces internal challenges in building up its own modern physical and IT infrastructure along with the high-tech skills required for the country to be taken seriously as an offshore outsourcing destination.
On the physical infrastructure side there are more Smart Villages planned but travelling through the congestion in Cairo itself is still a painfully time-consuming exercise.
On the high-tech side, access to computers and the internet is beyond a huge proportion of Egypt's 70 million-strong population and there are still only 100,000 broadband subscriptions - most at 256k - on a rollout that began almost three years ago.
But the government is trying to address the situation by providing subsidised training for people to gain certified IT skills from vendors such as Microsoft and Oracle, while the Information Technology Industry Development Association (Itida) is subsidising 85 per cent of the cost for companies to gain the CMM software development quality accreditations that India has set the benchmark in.
Mohammed Omran, CEO of Itida, told silicon.com: "One of the key challenges is for Egypt to develop our own expertise in order to be able to compete with the world's outsourcing companies... and compete against India, Ireland and eastern Europe."
Photo: Andy McCue