Cisco to invest $1.6 billion in UAE over next five years

[OhioChick]

Source: Economic Times India

22 Jan, 2008, 1122 hrs IST, PTI

SILICON VALLEY: Cisco Systems Inc plans to invest nearly $1.6 billion in the United Arab Emirates over the next five years.

The networking giant said the investment, which includes the opening new offices in Dubai and Abu Dhabi and sponsored research, will generate 650 new jobs by the end of 2010. Cisco also will spend $400 million in the area through its Cisco Systems Capital Corp, a financing subsidiary.

The Silicon Valley-based company said yesterday that the funding will take place through third-party banking partners and "through the potential establishment of a financial services company in Dubai."

"This investment demonstrates our continued long-term commitment to the UAE. The vision of the country's leadership has allowed it to transition quickly to a 'connected' world. We look forward to continued collaboration working closely with the government to help support and realised the nation's ambitious development and growth vision," said Paul Mountford, president, Emerging Markets at Cisco.



Read more: http://economictimes.indiatimes.com/Infotech/Hardware/Cisco_to_invest_16_billion_in_UAE_over_next_five_years/articleshow/2720293.cms

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Why Doesn't Cisco Just go Ahead and Become a Foreign Company, Already?

[ananda]

1. Yeah, it's not like..

.. we need jobs and investment in America. Smirk.

[blondie58]

2. yeah, 650 new jobs- WHERE?

The networking giant said the investment, which includes the opening new offices in Dubai and Abu Dhabi and sponsored research, will generate 650 new jobs by the end of 2010. Cisco also will spend $400 million in the area through its Cisco Systems Capital Corp, a financing subsidiary.

In the UAE? And how many jobs does that take away from American workers?

[Nickster]

3. And how many of our tax dollars through tax cuts were used for this?

[flashl]

4. Halliburton needs networking? nt

[Phred42]

5. More Corporate Treason

These trans-national companies must be corralled and FORCED to operate in the INTEREST of the American People.

Edwards is the ONLY candidate that can and will do that.

[OhioChick]

6. Hear, Hear!

:thumbsup: