Ericsson: Political Stability Refreshes Foreign Investment in Egypt

Andres Lindblad, President Region Middle East at Ericsson, stressed that political stability will open up new opportunities for economic growth and restore foreign investment in Egypt, especially after the president took office and finalized the new government formation today.

During breakfast party organized yesterday by the company, Andres said reviving political stability in Egypt will contribute in reinvigorating tourism, which is considered the most affected sector by the January 25th Revolution.

On the side he affirmed that Ericsson is ready to meet the requirements of the new market that will accompany the launching of the virtual license within the next few months, he said, underlining that the company will not join any alliance in order to directly obtain the license.

After terminating its merger with Sony Ericsson, the company will cease its phone manufacturing during the coming period, devoting themselves to providing infrastructure services and the software designed for operating communication networks, he added.