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US-based LSI Logic Corp, a global leader in semiconductors, will set up a design and development centre in Dubai, its first venture in the Middle East and North Africa.
 WAM Shaikh Mohammad witnesses the signing of an agreement by Shaikh Ahmad and Wilfred J. Corrigan, chairman of the LSI Logic, to set up a semiconductor designing facility in DSO. |  |
Dubai Silicon Oasis (DSO) yesterday signed an agreement with LSI Logic to establish its 26th semiconductor design and engineering development centre focused on the design of high-performance consumer electronics solutions. Shaikh Ahmad Bin Saeed Al Maktoum, chairman of DSO, and Wilfred J. Corrigan, chairman of LSI Logic, signed the agreement at Gitex yesterday. The LSI Logic development centre will be located in the DSO Microelectronics Innovation Centre. Shaikh Ahmad said, "DSO has been created to attract the world's renowned high technology firms. LSI Logic's initiative further enables the region's transition into a thriving knowledge economy. "The LSI Logic agreement solidifies our ability to provide the right environment for companies to operate here, making Dubai a world class location for multinational high technology firms to establish cost-effective R&D and manufacturing operations." LSI Logic is a technology leader that provides "silicon" to develop systems capabilities for consumer electronics, storage and custom solutions markets. DSO is a strategic initiative by Dubai to build a global microelectronics technology park that will provide turnkey design and development facilities for the electronics industry. LSI Logic last year recorded a $1.8 billion in revenues. About 60 per cent of its revenues from consumer product sales are generated in Asian markets and the company sees strong growth potential in the Middle East, Corrigan said.  Every stall has added new and trendy innovations to its decor to attract visitors. | | |
"The Middle East is a growing market. There is lots of local talent here who would become an asset in our business. That's what prompted us to invest in this market," he told Gulf News following the signing ceremony. "We have a global network of 25 design centres. Our investment in Dubai is the first in the Middle East and North Africa (Mena). China, India, Asia and the Middle East are our large growth markets. "Approximately 60 per cent of LSI Logic's second quarter semiconductor revenues came from overseas customers with Asia being the company's largest foreign market. "We have always strived to develop a global workforce and position our engineering talent in close proximity to our worldwide customers."
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