Israel's Prime Minister Benjamin Netanyahu and Cisco Systems Inc. (Nasdaq: CSCO) chairman John Chambers last night signed a Memorandum of Understanding (MoU) for strategic cooperation, which aims to speed up the digitalization of Israel over the next three years. The agreement was signed in the presence of Minister for Social Equality Gila Gamliel and Cisco Israel general manager Oren Sagi. The cooperation will focus on the application of digital technologies and cloud tools across the public sector, education system, health and the development of smart cities.
In the first stage of the new partnership, Cisco said, in a project in partnership with the Ministry for Social Equality and the Eshkol Region of the Negev, the eastern Negev will become Israel's first fully digitalized region. As part of the project, Cisco will create a digital center, which will offer services to improve the quality of life of the region's residents and will bring new jobs to promote the initiative.
Chambers said, "All countries, cities, businesses, homes and cars will become digital in the next decade. The influence on GDP growth, and including all citizens in smart and safe communities, health and innovation will be dramatic. This is a great honor to be partners of this country, its citizens and Israel's government leaders in this change."
Sagi said, "Cisco sees Israel as a market of very great importance and one of the world's leaders in innovation and entrepreneurship and thus we are one of the most important centers for Cisco worldwide. The smart East Negev project, which will make the area Israel's first digital region expresses in the best possible way, the change being adopted for this age."
To date, Cisco has invested $7 billion in direct and indirect investments in Israel. Cisco has acquired 11 Israeli companies and invested in more than 30 Israeli startups and four venture capital funds.
Published by Globes [online], Israel business news - www.globes-online.com - on June 27, 2016
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