Cisco Systems will spend US$265 million in Saudi Arabia over the next five years by adding about 530 employees, opening a technology and entrepreneurial demonstration center, and donating training and networking equipment in poor areas, the company said Tuesday.The investments are meant to help the country move toward its goal of being a “connected kingdom,” Cisco said in a news release. Cisco President and Chief Executive Officer John Chambers made the announcement while visiting Saudi Arabia. The investment “reflects our alignment with the country’s focus on entrepreneurship, innovation and education, which we believe will help drive the 21st century global economy,” he said in a statement.Cisco established operations in Saudi Arabia in 1998 and maintains offices in Riyadh, Jeddah and Khobar. SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe The five-year Cisco investment plan includes: increasing the number of Cisco employees in Saudi Arabia from about 70 to 600. providing leasing and other financial options to Cisco customers. creating a Cisco technology and entrepreneurship innovation center to demonstrate the effect of technology on vertical markets. sponsoring a Saudi technology and entrepreneurship institute, incubation space for startup companies and R&D activities. providing equipment, training and support required to provide Internet connections to 2,000 homes in underprivileged areas. establishing 100 new networking training centers, in addition to 42 current centers, to provide technical programs in concert with local universities. -Grant Gross, IDG News Service Check out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content opinion The changing face of cybersecurity threats in 2023 Cybersecurity has always been a cat-and-mouse game, but the mice keep getting bigger and are becoming increasingly harder to hunt. By Dipti Parmar Sep 29, 2023 8 mins Cybercrime Security brandpost Should finance organizations bank on Generative AI? Finance and banking organizations are looking at generative AI to support employees and customers across a range of text and numerically-based use cases. By Jay Limbasiya, Global AI, Analytics, & Data Management Business Development, Unstructured Data Solutions, Dell Technologies Sep 29, 2023 5 mins Artificial Intelligence brandpost Embrace the Generative AI revolution: a guide to integrating Generative AI into your operations The CTO of SAP shares his experiences and learnings to provide actionable insights on navigating the GenAI revolution. By Juergen Mueller Sep 29, 2023 4 mins Artificial Intelligence feature 10 most in-demand generative AI skills Gen AI is booming, and companies are scrambling to fill skills gaps by hiring freelancers to make the most of the technology. These are the 10 most sought-after generative AI skills on the market right now. By Sarah K. White Sep 29, 2023 8 mins Hiring Generative AI IT Skills Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe