Cisco hails Saudi growth

Networking vendor Cisco has revealed that Saudi Arabia has been ranked its fastest growing market worldwide in fiscal 2006. The announcement comes just a few months after the vendor ploughed US$265m into the region, unveiled plans to introduce another 100 academies and disclosed that it will be boosting headcount from 70 to 600.

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By  Dawinderpal Sahota Published  November 26, 2006

Networking vendor Cisco has revealed that Saudi Arabia has been ranked its fastest growing market worldwide in fiscal 2006. The announcement comes just a few months after the vendor ploughed US$265m into the region, unveiled plans to introduce another 100 educational academies and disclosed that it will be boosting headcount from 70 to 600. News that the Kingdom has been named Cisco’s fastest growing market therefore reinforces its strategy to transform the Kingdom into a technology hub for the region. Dr Badr Al-Badr, general manager at Cisco Saudi Arabia, said: “The company’s growth in KSA exhibits the leading role played by Saudi organisations in adopting innovative technologies and solutions. With Cisco’s plans to invest and expand our presence in the region, it is the ideal partner for Saudi organisations, helping them to be more innovative, efficient and productive.” Cisco expects such growth in the ICT sector to enhance Saudi Arabia’s competitiveness and lead to higher levels of efficiency and productivity. It anticipates the overall effect of this growth to be an increase in foreign direct investment into the country. “The ICT sector has become a driving force for competitiveness in KSA. Global organisations like Cisco have embraced this new transformation in Saudi Arabia, and have been bringing in global technology and thought leadership to be shared with local businesses in order to elevate competitiveness to a new level,” added Badr Al-Badr. The investment is being sponsored by the Saudi Arabian General Investment Authority which claims it is encouraged by the support shown to the Kingdom by Cisco.

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