The Information Technology Industry Development Agency (ITIDA) has signed a memorandum of understanding (MoU) with Telecom Egypt and Nokia, as announced in a press release. The agreement, signed during the Egypt-EU Investment Conference in Cairo, aims to expand Nokia’s operations in Egypt and enhance its capabilities in innovation and export services.
Under this partnership, an IP Excellence Center will be established in Egypt, positioning the country as a strategic hub for IT services. The center will serve around 60 countries in the MEA region and expand its reach to Europe and beyond, significantly boosting Egypt’s ICT services exports.
Amr Talaat, Egypt’s Minister of Communications and Information Technology, remarked, “Nokia’s growing footprint in Egypt, especially in export-driven areas, is a clear signal: our ICT sector is a magnet for global investment, underscoring the attractiveness of our ICT sector for global investments.”
He added, “This strategic public-private partnership will contribute to the growth of Egypt’s digital exports, which reached $6.20 billion in 2023.”
As part of the agreement, 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.”
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 of 2024, Telecom Egypt posted a consolidated net profit after tax and non-controlling interests of EGP 3.88 billion, an annual increase of 1.83% from EGP 3.81 billion.
