Iveda Partners with The Arab Organization for Industrialization, Bringing 5th Generation Smart Cities to Egypt
17 August 2023 - 11:00PM
Business Wire
Partnership will leverage Iveda’s deep
expertise for city infrastructure, digital transformation, safety
and security
Iveda® (NASDAQ:IVDA), the global solution for cloud-based AI
video and sensor technologies, today announces a new partnership
with The Arab Organization for Industrialization (AOI) to support
and scale smart city developments in Egypt. Granted with a security
certification from the Egyptian Military Intelligence, Iveda has
clearance to participate in any projects within the country.
Through this collaboration, Iveda and AOI will effectively bring
new innovative technologies to the Europe, Middle East, and Africa
regions (EMEA), satisfying local government and industrial contract
needs. Iveda’s global IoT and AI technology and application
expertise, coupled with AOI’s large regional demand for innovation,
will be applied directly to project opportunities in Egypt and
throughout the greater EMEA regions.
According to a Deloitte whitepaper about 5G in smart cities,
urbanization is gaining speed around the world with many countries
turning to smart city technologies to cope with the challenges in
population and resources, and as a new concept in city development
for practical futures. Last year, the Egyptian government announced
their plans to introduce 38 new smart cities across the country as
part of the Sisi administration’s long-term infrastructure
development strategy. Together Iveda and AOI will play a critical
role in the development of 13 smart cities in the region, as well
as equipping Egypt's new administrative capital with smart city
technology.
Major technological advancements and the rise of 5G networks
have led to a new kind of smart city: the 5th Generation Smart
City. An emerging global wireless standard, 5G enables an enhanced
network that is designed to connect virtually everyone and
everything together––including machines, objects, and devices––at a
rapidly increased speed. Specifically, 5G can help boost cities’
transformations by providing enhanced services and infrastructure
for citizens, improving operations and security, and helping to
close the digital divide.
“5G is the key to the future of smart cities,” said David Ly,
Iveda CEO and founder. “At Iveda, we know the best way to support
the multitude of devices and sensors needed to achieve true smart
city status is through 5G networks. Through our partnership with
AOI, we’re able to provide AI-backed technology that has the power
to improve services and the overall quality of life for Egypt’s
residents. We look forward to the potential to scale with AOI
across the EMEA region, making 5G smart city technology available
and accessible to residents throughout these countries.”
The partnership will help to localize Iveda’s technology for
more efficient production and delivery throughout the region,
leveraging AOI’s expertise in electronic manufacturing, assembly,
logistics, shipping, and regional reach. Together, Iveda and AOI
will collaborate on the promotion and development of Egypt’s 5G
smart cities’ digital transformation, safety and security,
infrastructure, smart manufacturing, concessions, technology
transfer, smart mobility and transportation, and other 5th
generation smart city sectors.
“Throughout the EMEA region, we’re seeing a rapidly increasing
demand for innovation that may be applied directly to the
development of smart cities and other government initiatives,” said
Major General Ahmed Abdel Aziz, Chairman of the Board of Directors
of the Electronics Factory, on behalf of Major General Mukhtar
Abdel Latif, Chairman of AOI. “While AOI has the regional reach and
expertise, we require a trusted partner to provide the
technological prowess and are honored to have Iveda take on that
role. The company’s expertise in digital transformation and city
infrastructure aligns perfectly with our goals and plans to scale
5th generation smart cities in Egypt and beyond.”
This partnership with AOI rides on the heels of Iveda’s latest
partner announcements including collaborations with Valor
Healthcare, Movement Interactive, Evergreen Aviation, and NetGain
Systems as Iveda continues to scale both domestically and globally,
making advanced AI and IoT technology more accessible to local
governments and affiliate organizations everywhere.
About Iveda Solutions®
Iveda (NASDAQ:IVDA) is the provider of global solutions for
cloud-based, video AI search and surveillance technologies that
protect the people, places, and things that matter the most.
Iveda’s technology has the power to provide instant intelligence to
existing infrastructure, enabling cities and organizations around
the world to seamlessly enter the fifth industrial revolution.
Iveda operates at the forefront of digital transformation of cities
across the world, using IoT platforms with smart sensors and
devices developed to aid with use cases surrounding public safety,
security, elderly care, energy efficiency, and environment
preservation. Headquartered in Mesa, Arizona, with a subsidiary in
Taiwan, Iveda is publicly traded under the ticker symbol
“IVDA”.
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Olivia Civiletto Erwin olivia@dottedlinecomm.com
617.477.9857
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