, April, 16 2012 /PRNewswire/ -- IBM (NYSE:
) today announced the opening of a new branch office in
. The increased presence in the
region is in line with IBM's global geo-expansion strategy, an initiative aimed at strengthening the company's presence in
around the world by providing services and solutions to an expanding base of customers and partners.
"IBM is placing a strong emphasis on investment in the
as we recognize the opportunities presented by high growth rates and an increasingly competitive market. Our expansion strategy in the region is significant and ongoing, and
is a key focus in the market as we undertake that expansion," said Amr Refaat, IBM General Manager for
is one of the world's fastest growing economies with a national vision to create a sustainable and diversified economy by 2030.
"We are looking forward to contributing to
's vision of transitioning to a competitive knowledge-based economy, by expanding IBM's expertise in IT services and solutions with the aim of strengthening organizations and helping businesses achieve their objectives," added Refaat.
The company's investment in
is part of a broader plan to tap into new markets across the
. With the opening of a branch office in
last month, and in
in 2011, the new
subsidiary underlines IBM's plan to increase its presence in growth markets.
"IBM's investment in
is a significant development, given that the country's ICT market is being fuelled by the rapid pace of economic development and diversification initiatives. IDC believes that ICT end-users and channel partners will benefit greatly from IBM's expanded presence, as the country continues to attract foreign ICT investment by creating an attractive business environment through pushing improvements in competitive infrastructure. These are particularly prevalent in the telecommunications environment, as well as in business incentives, regulation, and transparency," noted
, Vice President and Regional MD,
IBM first entered the
in the 1940's and has been successful in delivering solutions and services to clients and partners across a variety of key industries including the public sector, banking, healthcare, and education. IBM works closely with leading educational institutions and governments as part of the
initiative, and has led groundbreaking regional initiatives and development partnerships in the fields of cloud computing, nanotechnology, desalination, solar power, and e-Government.