Dr. Mohamed Kamel Morsy, Expert in Strategic Management, described Egypt’s presidency of the Africa Ministerial Cooperative Council for the next three years .
Dr. Mohamed Kamel Morsy, Expert in Strategic Management, described Egypt’s presidency of the Africa Ministerial Cooperative Council for the next three years as a great move and clear significance of the leadership of Egypt in the African continent. At the same time, Egypt is asserting the sharing of its knowledge and expertise in different domains across the different nations in Africa, he stated
Morsey noted, in an interview with (Cairo Local Time), that housing is a cornerstone of sustainable development. Egypt, he underlined, during the last six years has made a lot of improvement and constructed a lot of mega projects in social housing and cooperative housing which proves the importance of that segment and drawing a model for African Countries.
After the pandemic period, he pointed, the world is facing today global economic problems of slowdowns and rising inflation as well as a geopolitical challenge in Europe due to the Russia-Ukraine war. Accordingly, Egypt as part of the global economy, suffered the increase of the prices of commodities. However, the development being done across different sectors is a clear proof that we have a solid economy in spite of the challenges, he reassured.
He further hailed the magnitude of progress recently done in Egypt starting with the infrastructure developments in roads, electricity, oil, and gas explorations. “We are moving across different sectors,” he said, adding that the development is translated into the GDP growth of last year. The shortage of foreign currency is mainly Egypt’s daunting challenge, he declared, stressing that if we overcome it, we will feel the impact of the new mega projects that have been implemented.
During a crisis, he perceived that Egypt needs to focus on four key areas that can benefit from the current infrastructure. Firstly, Egypt has to be able to attract foreign investors to buy the current real estate; commercial, residential or administrative. Secondly, the country has to work to modernize the Egyptian industries. We need to compete in sectors that are related to innovation and try to build a strong economy. Thirdly, we need to focus on export-oriented industries such as the mining industry or the outsourcing industry or any industry that is focused on export should be a priority, he illustrated
Finally, Dr. Morsey underscored the development of human capital, believing that “professional work” by well trained workers in every sector is the key word for any success
It is pertinent to mention that Egypt, represented by Minister of Housing, Utilities and Urban Communities Assem el-Gazzar, received Monday the presidency of Africa Ministerial Co-operative Council from Nigeria for the next three years. This came during the inaugural session of the activities of the 13th Africa Ministerial Co-operative Council hosted by Egypt for the first time ever
Daily Debate is aired on Nile TV International and this episode is conducted by Mona Moselhy.
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