Cisco Systems will spend US$265 million in Saudi Arabia over the next five years by adding about 530 employees, opening a technology and entrepreneurial demonstration center, and donating training and networking equipment in poor areas, the company said Tuesday.
The investments are meant to help the country move toward its goal of being a “connected kingdom,” Cisco said in a news release. Cisco President and Chief Executive Officer John Chambers made the announcement while visiting Saudi Arabia. The investment “reflects our alignment with the country’s focus on entrepreneurship, innovation and education, which we believe will help drive the 21st century global economy,” he said in a statement.
Cisco established operations in Saudi Arabia in 1998 and maintains offices in Riyadh, Jeddah and Khobar.
The five-year Cisco investment plan includes:
-Grant Gross, IDG News Service
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