Cisco, USAID to Grow Russia High-Tech Sector With $50M Deal

Cisco Systems has signed a $50 million deal with the U.S. Agency for International Development to provide staff and in-house services for technology related services, training centers and other projects across Russia.

Cisco will contribute from $30 to $40 million, with initial allocations going to training centers the company has already established.

The investments should increase technical skills and grow the high-tech share of the country’s gross domestic product. The high-technology industry currently occupies between 1 and 2 percent of Russia’s gross domestic product.

“Our direct interest is that this share increases, but we cannot increase it if there are not enough highly qualified specialists and enterprises, ” said Mikhail Pakhomov, director of government affairs for Cisco in Russia.

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