French Valeo, smart mobility Tech Company has signed an MOU (Memorandum of Understanding) with Egyptian Ministry of Communication and IT to expand their investments and business volume in Egypt.
As per the news, Valeo will expand its business in Egypt, increase its exports of software services, and provide additional job opportunities for more than 850 engineers based in Egypt in order to export software to its clients abroad.
As per the MOU, ITIDA and Valeo will cooperate in building the capabilities of Egyptian cadres by providing specialised training in the field of software and electronics. The MOU will also create job opportunities for trainees as part of Valeo’s efforts to expand its business in Egypt.
The MoU was signed by Amr Mahfouz, CEO of the Information Technology Industry Development Agency (ITIDA); and Tamer Ali, General Manager of Valeo Egypt and Head of the Development Centre.
Egyptian Minister of Communications and Information Technology Amr Talaat stated, “ Valeo’s interest in expanding its business in Egypt reflects the attractiveness of the Egyptian ICT sector to foreign investments and the availability of young cadres with creativity and leadership in development processes, stressing the state’s keenness to enhance Egypt’s position in providing value-added information technology services and cross-border services, especially as it is a leading global destination in this field.”
Amr Mahfouz added, “The authority is working to enhance Egypt’s competitiveness in these areas, as well as providing support and talent development in the fields of embedded systems and electronics design, all within the framework of Egypt’s 2022-2026 Digital Strategy for the outsourcing industry, through which it aims to triple the volume of digital exports.”
The Valeo Egypt Technical Centre includes about 2,500 Egyptian engineers working on software engineering development in the field of embedded systems, electronic circuit design, intelligent transportation and autonomous driving for Valeo customers, including providing a full range covering all Valeo products to its customers all over the world.
