U.S. technology’s footprint grows in post-Mubarak Egypt

Several major United States technology giants are looking at Egypt as an opportunity for IT initiatives, pledging training and other support, including a $10 million investment.

Hewlett-Packard Co. and Egypt's Information Technology Industry Development Agency (ITIDA) have just signed a memorandum of understanding (MOU) under which HP will provide world-class training to Egyptian hardware companies and increase their competitive advantages, according to a June 13 ITIDA announcement.

The MOU will help Egyptian companies grow their businesses, impart key skills to employees and to those in the wider talent pool, and increase their footprint in local and regional markets, the announcement added.

The signing of the MOU between ITIDA and HP was accompanied by news that Cisco 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.

"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,” Egyptian Minister of Communications and Information Technology Dr. Magued Osman, said in the announcement.

The $10 million investment will help Egypt become an IT hub, providing IT-assisted telecommunications services to foreign companies, he added.

Also, according to the ITIDA, Motorola Solutions Inc. will open a Middle East and North Africa regional office in Cairo to sell its communications products and services directly to Egyptian and other regional customers.