Intel Waiting For Middle East Dust to Settle before Going on with Projects
"Intel sees enormous potential in emerging Middle Eastern, African, and Eastern European markets," said Intel Middle East channel business manager Nadim Jaroudi during a visit to Egypt, quoted in a report by Israel's Business Arena.
Last October Intel reached an agreement with the Egyptian government, under which the company would invest $500 million in setting up a fab in Egypt. Jaroudi confirmed that recent developments in the region would delay the venture's implementation. He predicted that additional ventures would take place after the situation in the region clarified.
According to the report, Intel was expected to announce its intentions concerning the establishment of a new fab in Kiryat Gat, Israel but indications, including the suspension of construction in fabs in Ireland and Massachusetts, are that a decision on the matter has not yet been made.
According to Jaroudi, "Despite the frozen Middle East peace process, Intel's revenue in the region was double the previous year. We won't reach such achievements this year, but we'll come very close.”
Jaroudi said that PC sales in the region increased by 22-24 percent in 2000, compared with 13 percent in other emerging countries. He predicted that this growth rate would continue in the coming years.
Jaroudi added that many governments in the region, including Egypt, Saudi Arabia, United Arab Emirates, and Jordan have recently been progressing in e-business development. He said, "Egypt and other emerging markets, such as Eastern Europe and Africa, are progressing at a much faster pace than the traditional markets, such as the US and Western Europe.” -- Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
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