German industrial giant Siemens along with Germany's Federal Ministry for Economic Cooperation and Development (BMZ) signed Tuesday a strategic alliance with the Egyptian government to support occupational training in the country with a total investment of over €22 million ($26 million). The move is aimed at driving employment opportunities for Egyptian youth and increase workforce localization in line with Egypt Vision 2030, said a statement from Siemens. As per the deal, BMZ and Siemens will help establish and operate a joint technical training centre in the country. The 2,000-sq-m facility will be built in the strategic New Suez Canal Development Zone in the Ain Sokhna area. It will provide training for more than 5,500 Egyptian youth over the next four years in advanced technical skills that are critical to the Egyptian economy. These include industrial mechanics; electrics and electronics; automation and control as well as building key competencies in the maintenance and repair of power plants and wind farms. The parties will also support the modernization of a Higher Technical institute in Al Ameriya area in Cairo, said the statement. The announcement was made at bricklaying ceremony, which was attended by German Federal Minister for Economic Cooperation and Development, Gerd Müller, Egypt's Minister of Investment and International Cooperation, Sahar Nasar, as well the German Ambassador to Cairo, Julius Luy. Siemens executives present at the ceremony included Chief Human Resources Officer and Member of the Managing Board of Siemens AG, Janina Kugel, CEO of Siemens in Egypt, Emad Ghaly alongside other business leaders from the Egyptian-German business community. Commenting on the deal, Gerd Müller, said: "Egypt's youth is looking for perspectives and sustainable development. To achieve this, private investments and a qualified workforce are essential." "Our co-operation with Siemens will ensure that the new occupational training centre takes the needs of young people as well as the local job market into account. We want to provide the basis for future investment and more jobs in Egypt," he added. Opportunities to support educational development in Egypt are vast, including the building of training centres, training of trainers and access to new equipment and technologies. Vocational education and technical acknowledged accreditation are especially needed to support economic growth and to bridge the skills gap in the market. "Siemens continues to invest in Egypt. In addition to supporting industrial growth of the country, we are committed to helping develop a pipeline of talented local workforce," remarked Kugel. "Through our partnership with BMZ, we are investing in skills building for the next generation of Egyptian workers so they are best positioned to contribute towards their country's sustainable development," she added. Ghaly said: "While the scale of our Megaprojects in Egypt is truly remarkable, today's agreement marks a new milestone for Siemens in Egypt, given its impact on Egyptian youth. A highly-skilled manufacturing workforce is critical to Egypt where we have been active for over 115 years." "We are thrilled to enter this partnership with BMZ to help empower Egyptian youth and prepare them well for the markets of the future," he added. Source: TradeArabia
