Egypt signs MoU with Saudi Company to localize IT technology

CAIRO - 8 July 2019: Minister of Military Production Mohamed al-Assar signed on Sunday a memorandum of understanding (MoU) with a Saudi company called Newton to localize IT technology used in the sectors of marketing, logistics, technical support and maintenance.

The MoU is considered a first step towards signing a contract between the National Organization for Military Production and Newton. Through such partnership, both would supply products and spare parts to the GCC and Middle East countries, introduce new production lines, and offer maintenance and training services.

CEO of Newton Abdullah Mansour Solaiman said that the MoU reflects the Saudi interest in the economic momentum Egypt experiences and its eagerness to benefit from the promising investment opportunities.

Solaiman added that his company had selected the Egyptian Ministry of Military Production because of the technology, manufacturing, technical, research, human, and infrastructure qualifications its companies possess.

Solaiman also praised the military production companies for their outstanding reputation, speed, and accuracy as well as their portfolio showing the accomplishment of many national and development projects.