Motorola, HP, Cisco to invest in Egypt


Egypt continues to prove its appeal as a leading
outsourcing destination, with substantial commitments from multinationals
pledging continued support as the country moves forward.



Hewlett-Packard and
Egypt’s Information Technology Industry Development Agency (ITIDA) have signed a Memorandum of Understanding
(MoU) to provide training to Egyptian hardware companies and increase their
competitive advantages.



The MoU aims to assist Egyptian companies in training to
help grow their businesses, impart key skills to employees and in the wider
talent pool, and increase their footprint in local and regional markets.



This MoU is a clear testament to our commitment to
support all segments of the IT industry in Egypt. While our endeavours in
positioning Egypt as one of the key outsourcing destinations have yielded
significant results, we are keen on extending all the necessary support to the
Egyptian hardware companies and we are positive that this training, along with
other initiatives will have considerable impact,” said Yasser ElKady, CEO,



The MoU signed between ITIDA and HP was accompanied by
news of a major new investment from Cisco. Cisco has
announced that it will invest $10 million to seed a sustainable model of job
creation and economic development in Egypt. The venture capital investment
targets high-potential small businesses that provide innovative products and



“The Egyptian government recognizes that properly
functioning telecoms and IT infrastructure is essential for attracting foreign
investment and enabling the private sector and government to function more
efficiently. The government’s aim is for Egypt to become an IT hub, providing
IT-assisted teleservices to foreign companies. This $10 million investment will
help us promote economic development, leading to enhanced opportunities for the
people of Egypt,” said Magued Osman, minister of communications and information



“We believe there is tremendous growth potential in
Egypt’s ICT sector and are committed to supporting Egypt’s – as well
as MENA’s – long-term goals. It is therefore appropriate for Cisco to make
this investment into the Egyptian economy and its people,” said John Chambers,
chairman and CEO of Cisco.


A further development was the announcement by Motorola
Solutions to open a key office for the Middle East and North Africa (MENA)
region in Cairo, Egypt. Strategic expansion in Egypt will help Motorola deliver
its leading mission-critical communication products and services directly to
Egyptian customers but also to many other customers outside of the country as
the Cairo base of operations becomes established as the newest Regional
Engineering Centre.



By Team

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