by Ahmed Fouda
Now we are in the process of selecting investment projects, and we need to be extra careful in order to allocate the appropriate projects that match our development goals. We need to select projects that are of technological value and high quality as we need at this phase to keep our eyes focused on export markets.
Our textile projects need the government’s full attention, we do need to distinguish ourselves in this field. Textile projects are labour intensive and we do have a large pool of trained labourers that need to have their skills upgraded, together with the machinery they operate and the management calibres who are in charge.
It’s about time for us to re-open factories that closed down in the new cities, we need to cater to their needs, provide them with support to pull through the current difficult phase. We further need to examine project bids submitted by multi-national companies that seek to establish industrial zones in Ismailia and the Suez area.
Currently, our government officials have in front of them projects, and investments that are proposed by various parties, and at this stage we need their urgent examination of such projects, action, and decision making. We do not want to lose any of such projects and waste further time. These proposed projects will entail that we introduce further actions that need to be incorporated in the government plans in order to be able to achieve the targeted objective at this point; which is make available new job opportunities.
Most importantly the New Suez Canal projects that we are all awaiting need more than our full attention, they might need intervention of senior government officials and need to be taken care of under the auspices of the prime minister if need be.
In selecting our future projects we do need to keep in mind that we should set our biases totally aside, economic development needs to be the basis of any decisions. What we require is selecting specialised competent committees that are capable of conducting feasibility studies and have the decision making authority. One stop investment windows that have long been discussed in order to cut short government bureaucracy need to be immediately executed. These one stop shops or investment one stop windows will be the kiss of life to our economy. No delays should be accepted.
We also need to remember that now and right this minute a number of Arab and non-Arab governments are extending their hands and are seeking to invest in Egypt, again these opportunities need to be handled wisely. We are lucky because our President Abdel-Fattah El-Sisi is someone who is fully aware of the current world situation, is a man of action, and believes in tight deadlines in urgent matters. Let’s grab this chance to move forward, and save our time and energy as opportunities can be easily missed.
Now, our economic path depends on shrewd, wise choices, speedy implementation of regulations and enacting any economic and investment legislations that would result in achieving our economic goals.
