{"id":2107,"date":"2024-03-08T08:39:32","date_gmt":"2024-03-08T08:39:32","guid":{"rendered":"https:\/\/ta3heed.com\/en\/?p=2107"},"modified":"2024-03-08T08:39:34","modified_gmt":"2024-03-08T08:39:34","slug":"outsourcing","status":"publish","type":"post","link":"https:\/\/ta3heed.com\/en\/outsourcing\/","title":{"rendered":"How Will Exchange Rate Liberalization Affect the Operating Costs of Outsourcing Companies in Egypt?"},"content":{"rendered":"\n<p class=\"has-medium-font-size wp-block-paragraph\">The Central Bank of Egypt (CBE) unified foreign exchange rates on Wednesday, March 8, 2024.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">This decision raises questions about its impact on the operating costs of outsourcing companies in Egypt.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Opinions of Outsourcing Experts:<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-large-font-size\"><strong>Positive Impacts<\/strong><\/h2>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">Reducing costs for foreign outsourcing companies.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">Encouraging them to transfer their revenues to Egypt through official channels.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">No significant increase in operating costs.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">Amr Mahfouz Chief Executive Officer at El-Delta Electronic Systems calls on ITIDA to provide incentives for companies to transfer their dollar revenues to Egypt.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">Mohamed El Derwy, Managing Director Target HR Services MENA ,Expected decrease in the cost of operating one seat, Positive effects on the industry.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">He said, Prices of devices and technology tools will increase by 15-20%.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">Saeed Reyad, Deputy Director \/ OSP Vice Chairman Expected increase in licensing fees, CRM applications, Microsoft programs, and antivirus software.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">Difficulty in determining the dollar price for providing cross-border services.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">Head of a Global Outsourcing Company, He preferred not to mention his name, said Cost increase of up to 150%.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">Desire of skilled workers to travel abroad for better living conditions.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">CBE&#8217;s commitment to maintaining price stability in the medium term.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">Outsourcing companies rely heavily on technology tools.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">Technology tools represent about 35% of the operating costs in outsourcing companies.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">Difficulty for companies to price their services on a fixed basis due to fluctuations in the dollar exchange rate.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">Experts&#8217; opinions on the impact of exchange rate liberalization on operating costs are mixed.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">There are some expected positive effects, such as reducing costs for foreign outsourcing companies and decreasing the cost of operating one seat.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">There are also some expected negative effects, such as increasing the prices of devices and technology tools, licensing fees, and the difficulty of determining the dollar price for providing cross-border services.<\/p>\n\n\n\n<p class=\"has-text-align-left has-medium-font-size wp-block-paragraph\">It is important for companies to adapt to these changes by reassessing their costs and developing new pricing strategies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Egypt (CBE) unified foreign exchange rates on Wednesday, March 8, 2024.<\/p>\n","protected":false},"author":1,"featured_media":2108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,25],"tags":[201,46,196],"class_list":["post-2107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home","category-news-reports","tag-cbe","tag-digital-egypt-strategy-for-the-outsourcing-industry","tag-outsourcing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Will Exchange Rate Liberalization Affect the Operating Costs of Outsourcing Companies in Egypt? - Ta3Heed<\/title>\n<meta name=\"description\" content=\"The Central Bank of Egypt (CBE) unified foreign exchange rates on Wednesday, March 8, 2024.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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