Cisco to increase investment in KSA

JEDDAH — Cisco Systems is to increase investment and involvement in Saudi Arabia as well as employ more Saudis. It is to open a technology and entrepreneurial demonstration centre and donate training and networking equipment in poor areas in Saudi Arabia at a cost of $265 million over the next five years, according to a company statement made available to Khaleej Times here. It will add 530 employees to its staff.

By From Our Correspondent

Published: Mon 7 Aug 2006, 10:30 AM

Last updated: Sat 4 Apr 2015, 2:08 PM

Cisco President and Chief Executive Officer John Chambers made the announcement while visiting Saudi Arabia recently. The investment "reflects our alignment with the country's focus on entrepreneurship, innovation and education, which we believe will help drive the 21st century global economy," he said in the statement.

Chambers explained that the investments are meant to help the country move towards its goal of being a "connected kingdom."

He said that Cisco, which established operations in Saudi Arabia in 1998, maintains offices in Riyadh, Jeddah and Al-Khobar.

The five-year Cisco investment plan includes: Increasing the number of Cisco employees in Saudi Arabia from about 70 to 600, providing leasing and other financial options to Cisco customers, creating a Cisco technology and entrepreneurship innovation centre to demonstrate the effect of technology on vertical markets, sponsoring a Saudi technology and entrepreneurship institute, incubation space for startup companies and research and development activities, making available equipment, training and support required to provide Internet connections to 2,000 homes in underprivileged areas, establishing 100 new networking training centres, in addition to 42 current centres, to provide technical programmes in tandem with local universities.

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