Cairo – The Information Technology Industry Development Agency (ITIDA) signed a memorandum of understanding (MoU) with Telecom Egypt and Nokia, according to a press release.

The agreement, which was inked during the Egypt-EU Investment Conference that was held in Cairo, aims to expand Nokia's operations in Egypt and enhance its capabilities in innovation and export services.

Under the partnership, an IP Excellence Center will be established in Egypt, strategically positioning the Arab Republic as a hub for IT services.

The centre will serve around 60 countries in the MEA region and expand to Europe and beyond, boosting Egypt's ICT services exports.

Amr Talaat, Egypt’s Minister of Communications and Information Technology, commented: "Nokia's growing footprint in Egypt, especially in export-driven areas, is a clear signal: our ICT sector is a magnet for global investment, underscores the attractiveness of our ICT sector for global investments.”

"This strategic public-private partnership will contribute to the growth of Egypt's digital exports, which reached $6.20 billion in 2023,” Talaat added.

Under the deal, Nokia plans to hire and train Egyptian engineers, scaling its workforce in Automation Solutions Architecture, DevOps, and Data Science.

Vach Kompella, Nokia’s Senior Vice President and General Manager of IP Networks, commented: “The establishment of the IP Excellence Center marks a significant milestone in our three-decades-long association with Egypt and will play a crucial role in advancing the country’s digital infrastructure.”

“It will help us leverage the skills of local talent to cater to the evolving needs of enterprises in the ME region,” Kompella continued.

Mohamed Nasr Eldin, Telecom Egypt’s Managing Director and CEO, noted: “Network automation is the future and working closely with the global technology leader, Nokia, will enable Egypt to grow its profile in the global digital ecosystem.”

In the first quarter (Q1) of 2024, Telecom Egypt posted a consolidated net profit after tax and non-controlling interests valued at EGP 3.88 billion, an annual rise of 1.83% from EGP 3.81 billion.

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