Cisco Systems to Invest Up to US $275 Million (TRY 400 Million) in Turkey Over Next Five Years
Investments Planned in Country Transformation, Innovation Center, Entrepreneurship Institute, Leasing and Finance, Education and Staffing Highlight the Expansion of ICT in Turkey
ANKARA, Turkey, and SAN JOSE, Calif., September 26, 2006 - Cisco Systems® today announced a significant investment initiative in Turkey totaling up to US $275 million (Turkey New Lira 400 million) over five years. This announcement was made by John Chambers, President and CEO of Cisco Systems, during his visit to Central and Eastern Europe and highlights the growing importance of Turkey in the global emerging markets.
Chambers discussed Cisco’s investment plans in Turkey with Prime Minister Recep Tayyip Erdogan while in Ankara today. Chambers’ meeting with the Prime Minister focused primarily on enabling Turkey to better compete globally through the adoption of information communications technology (ICT) and improved education.
“Technology is able to drive the productivity and standard of living for communities and countries on a global basis, and Turkey understands the critical importance and transformative impact technology can have on businesses, governments, societies and the overall economic growth of the country,” said Chambers. “Cisco’s announcement today about its investment in Turkey supports the country’s entrepreneurial focus and e-transformation initiatives, which are focused on establishing a more connected country and skilled workforce in order to increase productivity and foster innovation, and are vital for Turkey to sustain the same rate of growth it has enjoyed over the past four years.”
Cisco Systems’ five-year investment plan for Turkey will allocate investments in the following areas:
* Create technology investment initiatives aligned with Turkey’s Networked Economic Agenda to help accelerate country transformation and economic growth.
* Support the Turkish Prime Minister’s Connected Turkey e-transformation agenda by providing networking technology and prototypes to support pilot programs targeted towards rural broadband for education, as well as connectivity for small and medium businesses, municipalities and local communities.
* Develop a Cisco Systems Technology Innovation Center to demonstrate the impact technology has on productivity across the different market segments and foster closer collaboration with local companies and partners to accelerate partner testing as well as customer pilot projects. As part of this, Cisco will provide a lab platform for testing complex new technologies for the Turkish marketplace with local partners and entrepreneurs and increase the number of CCIE engineers in the country to a minimum of 100.
* Establish the Cisco Entrepreneurship Institute, an initiative between Cisco, the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and the Turkish government, to teach skills for opening and running small businesses. The education partner in the program is the University of Economics and Technology. As part of this initiative Turkish entrepreneurs and small businesses will be eligible for equity and project financing, supporting information and communications technology development in Turkey.
* Support the establishment of 200 new Networking Academies in the country over the next five years to provide enhanced technical programs in concert with leading local universities. There are currently 47 Networking Academies across Turkey.
* Offer localized products as well as customer service and support for the technical needs and requirements of local service provider customers.
* Increase overall headcount of Cisco employees in Turkey from 80 to 400 employees and expand office space to accommodate employee growth.
Cisco first established operations in Turkey in 1996 and today maintains offices in Istanbul and Ankara.
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