Dr. Mohamed Abdel-Azim, Professor of Economics and Political Science, said that the world is figuring out the majority’s effectiveness of the COVID-19 economically.
Dr. Mohamed Abdel-Azim, Professor of Economics and Political Science, said that the world is figuring out the majority’s effectiveness of the COVID-19 economically and socially. Nevertheless, most of the third world countries were badly influenced by the pandemic as proven by the International Monetary Fund (IMF) and the World Bank. They are really merging different countries’ policies and ways to deal with this kind of crisis; the first to be seen in decades for lengthy periods, as he believed, from five to seven years.
Shedding light on the international press conference at the headquarters of the General Authority for Investment and Free Zones, he stressed over his voice with (Special Edition) the leading role of Egypt in managing this kind of crisis. He highlighted Prime Minister Mostafa Madbouly’s display of different kinds of policies for companies and even for individuals to deal with problems. The PM opened ways to public and private partnership; like offering percentages of national projects, such as the electric train, to the private sector and listing companies affiliated with the Egyptian army on the stock exchange. This is in addition to offering investments in different fields such as communication, information systems and renewable energy.
Abdel-Azim stressed that the conference represented the state ownership policy and the national strategy of Egypt. It showed ways of extending the base of private sector partnership and sent a message of reassurance to local investment. “It is a kind of integrated plan from the government to empower the private sector and regulate the state for economic activities,” he said.
The economist described Madbouly’s press conference as a strategic long scene for the Egyptian policy introduced by the government to deal with not only the recent problems but also the upcoming ones, adding that he is pleased that Egypt has such a government that has a long-term strategy associated with most of our projects.
Dr. Mohamed Abdel-Azim noted that it is going to take a long time to get out of the global economic downturn. However, Egypt is going to make collaboration with European countries and China to lessen the economic impact of the Russian-Ukrainian crisis according to its strategy. The global economy will suffer from this crisis and the only way out is to work together as soon as possible.
The Special Edition is aired on Nile TV International and is conducted by Hala El-Hamalawy.
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