(MENAFN- Daily News Egypt) Egypt's internet commerce scene is still in its first steps for growing and reaching its potential. But with incentives initiated by the government and private companies, it looks great for the e-commerce industry. The taken-off e-commerce in Egypt is quite Improving but needs more elements in the upcoming years. Information and Communication technology evolution has played a very important role in uplifting the sector. Its evolution has affected the way businesses are managed both internally and externally by creating new goods, services, delivery channels. By which the organization can enhance the relationship with customers.
Although, it was reported that the Egyptian system lacks the potential commitment, institutional capacity to implement a reform program. However, there are major strategic plans for uplifting/upbringing the sector with increased exposure to technology and the youth highly depends on the internet this, e-Commerce is the in the current generation is widely observed across the region.
Egypt being a developing country with an economic transition, has invested in building its Information Technology. (IT). In 1994, the internet became property for the government, public and private sector as a tool for business and socio-economic development which established the base of e-Commerce in the country. Following the usage of internet and technology, proper strategies, programs and policies were conducted in the past decade to double the online business with beneficial exposure.
E-Summit 2018/2019
In 2018, a grass-roots movement, to stir up the conversation of the potential online business, E-summit was consecutively conducted for two years. The following year's event also received a huge success. It is a platform to educate and revise the awareness of the inner workings of e-Commerce and a unique chance for top players to emerge with new service providers and industry leaders. The summit event includes presentations, workshops, interviews, masterclasses and much more to educate people about the importance of e-Commerce.
Partnership with UNCTAD to boost e-commerce
The Egyptian Government also partnered with The United Nations Conference on Trade and Development (UNCTAD) for empowering the sector of e-Commerce. UNCTAD's national e-Commerce policy was presented in Geneva during the e-Commerce week. It portrayed how developing governments can work with private sectors to plan for e-Commerce eco-system which will eventually lead to boost skills, jobs, and economic growth. The strategy focusses on the following policies like ICT and Telecom services, Electronic payments, awareness rising, E-procurement (B2B, B2C or business to government purchase)
UNCTAD ICT policy provides advisory services, diagnostics, technical assistance
The most important policy under UNCTAD that is adopted by the government is the Information & Communications Technology. Since UNCTAD is mandated to promote trade in developing countries, the ICT policy review program provides advisory services, diagnostics, technical assistance, methodology, and strategy alongside ICT national planning at the request of respective governments.
Analyzing the latest strategies for e-Commerce, the sector holds its strengths, weaknesses, opportunities, and threats. The strength of this industry is mainly the tech-savvy youth, as many young people rely on online shopping websites. An online platform like Noon that is popular in the whole MENA region is a website where the application of Noon discount code is enough to get discounts and offers.
The opportunities in the sector include enhancement in exports and competitiveness. It connects rural, urban markets and supports every start-up. The available market for daily house-hold items, groceries, electronics and especially fashion, have made it easier for people to reach out to their desired items with easy steps. Websites like Jumia, Next Egypt, Voga Closet are mostly used by women for clothing necessities. For maximum reduction, accessibility of the VogaCloset coupon code code helps the online shoppers to avail discounts on their purchases.
With the availability of strategic plans, international partnerships, summits, and use policies, the Government incentives light the future of e-commerce industry in the country. The legal enactments such as the Consumer Protection Act, Cyber Crime Law, and Date Protection law safeguards the interest of people related to the industry including online traders and consumers. The presence of legal aid, international support, and national programs, the Internet business is likely to grow, develop and reach its potential success in Egypt.
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