‘Egypt is a market of huge potential in power, innovation’: CEO of AVEVA Group

Doaa A.Moneim from Paris, Tuesday 15 Oct 2024

Egypt is a market of huge potential, given its significant population and innovative talents, CEO of AVEVA Group Caspar Herzberg told Ahram Online on Tuesday.

CEO of AVEVA Group Caspar Herzberg
CEO of AVEVA Group Caspar Herzberg speaks during an event.

 

Herzberg made his statement on the sidelines of the AVEVA World 2024, one of the biggest tech congresses in the world, that kicked off on Monday. He added that the country has a legacy in digital infrastructure, hailing the significant progress achieved over the past 10 years.

AVEVA World brings together leading industrial companies from across the globe to explore how to generate impact using cutting-edge technology. Executives from key industrial fields, including power, chemicals, minerals, and food and beverage, attend the event.

“Over the past five years, Egypt made massive efforts to connect assets and analyze information from them, especially in the Ministry of Electricity and Renewable Energy scope and the most modern desalination plants the country has established recently. There is a real quantum in digitization in Egypt,” Herzberg told Ahram Online.

He noted that the Egyptian government has made a significant effort to provide water and electricity for its huge population that exceeds 106 million inhabitants, which makes it an attractive market for software providers or any investor, for global and local companies alike.

He also noted that the Egyptian government has been working to increase investments.

“Egypt had ups and downs over the last couple of decades, but I believe that the innovation in Egypt is the future of the country that will enable it to grow and also for the companies who have plans to grow in the local market,” Herzberg said.

AVEVA Group has collaborated with electricity and petroleum ministries in Egypt, along with other companies in the energy sector in terms of data management and analysis.

AVEVA is a UK-based company that focuses on industrial software. The company’s secure industrial cloud platform and applications enable businesses to harness the power of their information and improve collaboration with customers, suppliers, and partners.

The company cooperates with over 20,000 enterprises in over 100 countries globally, mainly on AI-enriched insights and data.

On the event’s second day, AVEVA showcased its solutions and vision for how artificial intelligence (AI) and digitally connected communities can accelerate efficiency, agility, and sustainability by building connected information ecosystems. The event encompasses more than 3,500 industry executives and experts in attendance.

In a press conference, Ahram Online discussed with Herzberg how global and regional tensions have affected digital transformation efforts, particularly in the Middle East and developing countries, including Egypt.

In this regard, Herzberg said that there are significant, advanced, and leapfrogging digitization efforts in the region.

“Now what the region isn't advanced in is regional collaboration, regional cooperation, whether that is in digital or resource sharing, or any type of information flows, most efforts are always within countries, actually often even within a country, let's say, above you would have compartmentalized efforts,” Herzberg said.

“And ultimately, I think it's proven that there is a correlation between economic integration and prosperity and political integration and prosperity. And there's also a correlation that if you exit a joint market, there is an economic decline after that,” he added.

In this respect, Herzberg stressed that the region could do much better, especially in sharing information and establishing the protocols, or the regional frameworks that allow its economies to do so.

“That's also very true for Africa. Second, of course, focusing on the joint challenges faced by the region, climate change is the most effective, as temperatures have been rising in crazy ways in the last couple of years. So, it'd be good if everyone refocused their attention to the more strategic challenges we face, as away from the current challenges, there's a lot of development,” Herzberg explained.

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