Showcase for latest technologies tailored to needs of sector
Craig Barrett, CEO of Intel Corporation, the world’s largest chipmaker and leading manufacturer of computer networking and communications products, inaugurated the new Finance Competency Center at the American University of Beirut (AUB) Monday.
The center, the first of its kind in the Middle East, was established in collaboration with software giants Intel, Hewlett Packard and Microsoft and was designed to be a state-of-the-art technology venue providing students, software developers and engineers with the means to conduct research, development and training. It also offers fine-tuned applications tailored to the needs of financial service institutions.
“The Finance Competency Center will allow the country to compete better in the global economy,” Barrett said at a news conference held at AUB’s West Hall.
According to research group Madar, Lebanon currently has an estimated 515,000 internet users. As a first step to encourage use of the internet in Lebanon, the Ministry of Telecommunications launched new fixed-rate services for internet dial-up users in June
this year.
Information Technology Landscape in Lebanon said data transmission and internet services were growing rapidly in the region, with Lebanon accounting for around 40 percent of internet traffic in the Arab world.
The new center will bring the latest in Intel-based computing solutions and knowledge to Lebanon and the Middle East’s financial services industry. The center will showcase the latest technologies and is expected to benefit more than 400 banks in the Arab world and 2,500 students from the various faculties of AUB. The center will showcase the latest Intel Itanium Processor-based HP Compaq Business Notebooks.
“This new center establishes a key platform for the transfer of knowledge and developing applications that will enable Lebanon and the Arab world to create a world-class banking and financial services sector,” Barrett said. He added that he plans to discuss expanding the technological infrastructure and privatization in Lebanon with government officials.
Barrett also announced the launch of an Arabic language website in October focused on providing resources and news to teachers in the Arab world.
Intel also intends to expand its Teach to the Future program, currently only in Jordan, to Lebanon, Egypt and Saudi Arabia in 2004. The program allows teachers to enhance student learning through the integration of technology with day-to-day lessons. The program incorporates the use of the internet, web page design and student projects.
Barrett also held a round-table discussion with officials from the Information Technology sector at the Investment Development Authority of Lebanon (IDAL). IDAL chairman Samih Barbir said Barrett’s trip is a vote of confidence in Lebanon and the first of its kind in many years by a CEO of a multinational company of Intel’s size.
Barbir said the visit was an opportunity to show the chipmaker giant the IT success stories in Lebanon and get input on the best way to develop the IT sector to increase its investment appeal.
Barbir said the Lebanese IT sector has steadily developed over the past year, averaging around 15 percent annual growth, with an estimated turnover of $250 million in 2001. He said the IT sector in Lebanon now comprises some 500 companies employing more than 5,000 IT professionals, with software design gaining importance. The annual turnover of software design companies is $100 million.
According to Walid Nasser, an attorney with Walid Nasser and Associates, the level of computer software piracy in Lebanon continues to be the highest in the region.
“I hope that the initiative taken by Intel would convince the Lebanese authorities to make the fight against intellectual property piracy one of its priorities and launch a countrywide enforcement campaign to protect Intel’s investment and that of others in Lebanon’s IT sector,” Nasser said.
Tania Tavoukjian
© The Daily Star 2003
