ITIDA, Siemens Digital Industries Software heads during the signing ceremony.
Under the MoU, ITIDA will provide Siemens with logistics support for electronics design among other areas to help create new jobs for young Egyptians through training programs to build local competence and increase expertise.
The protocol also includes expanding cooperation between Siemens Academy of Excellence and academic institutions in Egypt, including the National Telecommunication Institute, Information Technology Institute, and the American University in Cairo.
Among the goals of the partnership between ITIDA and Siemens is supporting the capabilities of Egyptian startups in the field of electronic design and the local innovation environment.
Siemens Digital Industries Software is interested in the Egyptian market and has ambitious plans for its operations in the country in the coming period, Said Mike Ellow, the company’s executive vice president for electronic design automation global sales.
Furthermore, ITIDA’s CEO Ahmed El-Zaher stated that cooperation with Siemens will contribute to boosting Egypt’s digital exports and promote the market’s competitiveness to attract investments from global advanced technology companies.
As a result of the EGP 50 billion public investments in digital transformation projects until October 2022, Egypt’s digital exports reached $4.9 billion in FY2021/2022 and are projected to reach approximately $5.5 billion in FY2022/2023.