Ericsson completes 125 years in Egypt

The Minister of Information and Communications Technology, H.E. Dr. Amr Talaat, was present as Ericsson (NASDAQ: ERIC) commemorated its 125th year of operation in Egypt.

As part of its objective to promote Egypt’s growth in technological innovation, Ericsson declared at the ceremony that it was confirming its commitment to the country. Together with the Information Technology Industry Development Agency, Ericsson created and is running an Artificial Intelligence (AI) Innovation Lab at Sultan Hussein Kamel Palace as part of this commitment (ITIDA).

Additionally, the business revealed during the celebration its ambitions to intensify its efforts to promote technical innovation, robotics, and the advancement of human-robot interaction through the use of AI technology. It also announced plans to extend its operations in the AI sector. The business placed additional emphasis on fostering the growth of fresh talent and encouraging creative thinking in the context of new technology.

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The Honorable The Minister of Information and Communications Technology, Dr Amr Talaat, stated: “The telecoms and information technology sector in Egypt combines roots with modernity. The fact that Ericsson is celebrating its 125th anniversary in Egypt is evidence of how strong and stable the Egyptian market is, which has helped the company successfully carry out its strategy and projects over a long period of time and remain a partner in this promising sector. This sector offers more promising opportunities for all partners willing to invest and grow in Egypt to take part in creating a digital Egypt.”

Dr. Amr Talaat also emphasised the Egyptian government’s interest in growing the communications and information technology industries, which falls under the broader rubric of its vision for the industry as a driving force for growth and a crucial component to achieving a true renaissance in all sectors. Additionally, he mentioned that the budget for the sector climbed over 22.6% from the previous fiscal year to the current one.

The 125th anniversary of Ericsson is being celebrated here in Egypt, said Eng. Amr Mahfouz, CEO of the Information Technology Industry Development Agency-ITIDA. It’s been a long road of good cooperation, and it’s a perfect illustration of how ITIDA and the private sector can work together effectively. We are thrilled to see Ericsson continue to develop and thrive, exploiting Egypt’s distinctive skills and position as a premier global hub for high-end digital services.