Tuesday, March 28, 2006

Cisco unveils emerging market focus

Cisco Systems has revealed a strategy for its emerging markets, saying it sees opportunities to be part of the economic and technological transition of developing countries.

Delivering the keynote address at the start of Cisco's Networkers 2006 conference at Sun City yesterday, Cisco emerging markets president Paul Mountford outlined the importance of developing markets to the company.

These markets, comprising 129 countries, hold 79% of the world's oil reserves, 87% of the world's gas, 75% of copper, 77% of gold and 88% of platinum, he said. Furthermore, Mountford noted, these developing markets attract about $87 million in foreign direct investment and have shown a 5% to 9% GDP growth during the last three years.

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