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Cisco to invest $1.59 bn in United Arab Emirates

Date: 1/22/2008 1:21:13 PM

Dubai, Jan 22 The USbased networking and communications technology major Cisco has announced a plan to invest up to $1.59 billion in information technology projects in the United Arab Emirates (UAE), WAM news agency reported Tuesday.

The announcement was made Monday by John Chambers, Cisco chairman and chief executive officer, at a meeting with Mohammad Al Gergawi, UAE Minister of State for Cabinet Affairs.

As part of this investment, Cisco would open a new regional headquarters in Dubai in April 2008. It would host one of Ciscos advanced customer briefing centres allowing it to showcase the latest innovations in Internet Protocol (IP) networking technology such as Cisco TelePresence.

This investment demonstrates our continued, longterm commitment to the UAE. The vision of the countrys leadership has allowed it to transition quickly to a connected world, Paul Mountford, president, emerging markets Cisco said.

Unburdened by legacy technology, the UAE is able to deploy the most advanced IP solutions, placing the country at the forefront of the Internet economy, he added.

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