Cisco to pump $10bn in Egypt for economic development

Cisco Systems Inc. said on Monday that it would pump investments worth 10 billion U.S. dollars in Egypt to create a sustainable model for economic development.

"These investments will be directed to the small enterprises that provide products, services and creative solutions," General Manager at Cisco Egypt and Libya Ayman el Gohary told a press conference on the sidelines of the 20th round of Cairo's ICT conference.

"Cisco has worked with the Egyptian government to develop the information technology market in the country and establish infrastructure for various sectors such as the public sector, gas, petroleum and industry," he added.