Dr. Amr Talaat, Minister of Communications and Information Technology, witnessed the signing of a memorandum of understanding between the Information Technology Industry Development Agency (ITIDA) and VALEO to expand its investments and business in Egypt, in the presence of Marc Frico, head of the Driving and Convenience Assistance Systems Group at VALEO.
Under this memorandum; Value will expand its business in Egypt, increase its export of software services, and provide additional employment opportunities for more than 850 engineers based in Egypt, focused on exporting software to its clients abroad.
The memorandum of understanding also states that the Information Technology Industry Development Agency (ITIDA) and Valeo will work together to build the capabilities of Egyptian cadres by providing specialized 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 Eng. Amr Mahfouz, CEO of the Information Technology Industry Development Agency (ITIDA), and Eng. Tamer Ali, General Manager of Value Egypt and Head of the Development Center.
Dr Amr Talaat, Minister of Communications and Information Technology, explained that Value’s interest in expanding its business in Egypt is the attractiveness of the ICT sector for foreign investment and the availability of young Egyptian cadres capable of creativity and leadership of development processes is, reflected. Emphasizes the state’s zeal to improve Egypt’s position in the provision of value-added information technology services and cross-border services, especially as it is a leading global destination in this field; He referred to the efforts of the Ministry of Communications and Information Technology to develop the technical skills of the youth, especially in the delicate technological disciplines, in a way that contributes to the provision of digital skills for international companies operating in Egypt , in addition to providing facilities and investment incentives for international companies to create an environment conducive to the growth of investment.
Amr Mahfouz, CEO of the Information Technology Industry Development Agency (ITIDA), indicated that in view of the interest and directives of the Ministry of Communications and Information Technology to encourage and attract foreign investment in the field of value-added information technology services, the authority is working to improve Egypt’s competitiveness in these areas, as well as providing support and talent development. In the field of embedded systems and electronic design, all within the framework of Egypt’s digital strategy for the outsourcing industry 2022-2026, through which we aim to triple the volume of digital exports.
For his part, Marc Frico, head of the Driving and Comfort Assist Systems Group at Valeo, confirmed that Valeo is delighted to be one of the first companies to support the technology movement in Egypt, noting that Egypt has many cadres who capable of creativity and that a brilliant future in the field of technology.
Eng Tamer Ali, General Manager of Valeo Egypt and Head of the Development Center also indicated that Valeo Egypt is in continuous growth and strongly contributes to the group’s strategy to create a new era in automotive technology that depends entirely on artificial intelligence and software .
The Valeo Egypt Technical Center includes approximately 2,500 Egyptian engineers working on software engineering development in the fields of embedded systems, electronic circuit design, intelligent transportation and autonomous driving for value customers, including providing a complete range covering all Valeo products to its customers all over the world.
After the signing, Dr. Amr Talaat will tour the Value Egypt Technical Center, which is the largest of the Value Group software development centers and produces approximately 60% of the group’s total software production. It develops about 250 projects annually for value customers in France, Germany, America, China, Japan and others.
Dr. During his tour, Amr Talaat was informed about Value Egypt’s latest software innovations, including the “Carlab” laboratory, which includes the latest innovations in the field of smart mobility.
The Minister met with young engineers who presented the technology used in the field of automotive software and their continuous efforts to develop it, thereby contributing to the development of the automotive industry worldwide.
Dr. Amr Talaat praised the technological solutions he saw by the Egyptian youth working at the center in the field of smart mobility systems and the development of car software that uses artificial intelligence applications. He emphasized that Egypt has a wealth of creative Egyptian youth who are qualified at the highest level and are able to perform value-added services and compete in regional and international markets.