MESA, Ariz.--(BUSINESS WIRE)--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”.