Oracle spends about $5bn a year on research and development to provide competitive products and technological solutions, said Vice President of Oracle Abdul Rahman Al-Thehaiban.

Al-Thehaiban further noted that the company’s business growth amounted to 7% in 2015.

Al Thehaiban told Daily News Egypt that the Egyptian market is one of Oracle’s strategic markets in the Middle East and Africa due to the high population and the market need for technological solutions.

He added that the projects launched by the Ministry of Communications, such as the mechanisation of real estate and commercial registry offices, prove that the Egyptian market is promising, especially as the government is the market’s top buyer.

The vice-president noted that cloud computing services are very promising in the Egyptian market, pointing to statistics showing that 20% of global companies rely on clouds. He anticipated the rate to increase to 80% by 2025.

“The company provides many technological solutions to small and medium enterprises, as well as emerging companies,” Al-Thehaiban said, noting that Oracle’s 90 local distributors will increase in the coming period, especially in governorates.