ArabFinance: The Arab Organization for Industrialization (AOI) signed an agreement with SAMCO Group, a construction company, to establish national projects in Egypt and the wider African and Arab regions, Daily News reported on May 4th.

The deal falls in line with Egypts Vision 2030 regarding national projects.

Under the deal, both parties will deepen the manufacture of machines and equipment for smart car parking lots in Egypt. This will take place in cooperation with the Federation of Egyptian Industries (FEI) and the Ministry of Trade and Industry.

The newly signed agreement will generate many jobs for young engineers and technicians. It will provide training and provide them with the chance to acquire modern skills and experiences in accordance with the standards of the Fourth Industrial Revolution.

AOI is an Egypt-based Arab military organization established in 1975 by Egypt, the Kingdom of Saudi Arabia, the UAE, and Qatar to supervise the collective development of the Arab defence industry.

SAMCO is an Egyptian based company established in 1994. It is intergraded in the union of construction and establishment contractors in the first denomination in roads, Bridges, railways and general construction.

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