ITIDA, Valeo sign MoU to increase software exports from Egypt

ITIDA, Valeo sign MoU to increase software exports from Egypt

Egypt - Minister of Communications and Information Technology Amr Talaat witnessed the signing of a memorandum of understanding (MoU) between the Information Technology Industry Development Agency (ITIDA) and Valeo to expand its investments and business volume in Egypt.

The event was also attended by Marc Frico — Head of the Valeo Driving Assistance and Comfort Systems Group.

Under this MoU, 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.

The MoU also stipulates that the ITIDA and Valeo will cooperate in building the capabilities of Egyptian cadres by providing specialised training in the field of software and electronics, in addition to creating 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.

For his part, Talaat said that 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