HP, Cisco and Motorola reinforce Egyptian outsourcing
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 (HP), the world's largest technology company, and Egypt's Information Technology Industry Development Agency (ITIDA) have signed a Memorandum of Understanding (MoU) to provide world-class training to Egyptian hardware companies and increase their competitive advantages.
The MoU aims to assist Egyptian companies in training to help grow their businesses, import key skills to employees 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,” Yasser Elkady, ITIDA CEO, said “While our endeavors 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."
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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 services.
"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,” John Chambers, Chairman and CEO of Cisco, said. “It is therefore appropriate for Cisco to make this investment into the Egyptian economy and its people."
A further development was the announcement by Motorola Solutions Inc. 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.
Overall, Egypt remains a major IT destination, with many multinationals including Google, IBM and Valeo having established a significant presence in Egypt over the last year.
Edited by Kevin Scarpati