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Egypt Secures Major New Tie-ups and Investment From HP,CISCO and Motorola

June 13, 2011

CAIRO, June 13, 2011 /PRNewswire/ –

Recent Investment and Commitments From HP, Cisco and Motorola Reinforce
Strength of Egypt’s ICT Sector

        - Hewlett-Packard (HP) and ITIDA sign MoU providing
          world-class training to Egyptian hardware companies
        - Cisco invests $10million to seed sustainable job creation and
          economic growth in Egypt
        - Motorola expands regional operations 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 (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, impart key skills to employees and in the wider talent pool, and
increase their footprint in local and regional markets.

Commenting on the MoU, Yasser ElKady, ITIDA CEO said: “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.”

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.

Minister of Communications and Information Technology, Dr. Magued Osman
said: “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.”

John Chambers, Chairman and CEO of Cisco, said: “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.”

Olaf Krahmer, President of Cisco Egypt, continued: “Job creation and the
chance for greater opportunities are of clear importance to Egyptian
citizens. Through this investment, Cisco is demonstrating its commitment to
assisting the people of Egypt to begin to invest in meeting these needs,”

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.

About ITIDA:

The Information Technology Industry Development Agency (ITIDA) is a
governmental entity affiliated to Egypt’s Ministry of Communications and
Information Technology. It is responsible for growing and developing Egypt’s
position as a leading global outsourcing location by attracting foreign
direct investment to the industry and maximizing the exports of IT services
and applications.

Located in the heart of the modern business environment at Smart
Village, the six hundred acre business park on the outskirts of Cairo, ITIDA
is a self sustainable entity that drives the IT industry in Egypt and raises
awareness among the Egyptian people of the benefits and use of ICT to
advance socio-economic welfare of the whole community.

Ahmed Reda – Media & Communication Manager – Information Technology
Industry Development Agency (ITIDA) – T: +202-534-51-85 – E:
areda@itida.gov.eg & Rob Foyle – Hill & Knowlton – T: +44-20-7413-3512 – E:
rob.foyle@hillandknowlton.com


Source: newswire