EGP 40.5bn earmarked for economic stimulus in Egypt's FY 2024/25 budget    Egypt, Africa CDC discuss cooperation in health sector    South Africa's Ramaphosa calls for unity following ANC's election setback    Egypt's Al Mashat meets with South Korean First Vice Minister to discuss expanded partnership    Sudanese Army, RSF militia clash in El Fasher, 85 civilians killed    Madinaty Sports Club hosts successful 4th Qadya MMA Championship    Egypt's 2023/24 Tax Policy Document still under review: Maait    Amwal Al Ghad Awards 2024 announces Entrepreneurs of the Year    Egypt, Spain back Biden's Gaza ceasefire proposal    Egyptian President asks Madbouly to form new government, outlines priorities    Egypt's President assigns Madbouly to form new government    Pakistan inflation falls to 30-month low in May    Amwal Al Ghad Awards Ceremony 2024 kicks off this evening    Egypt and Tanzania discuss water cooperation    EU sanctions on Russian LNG not to hurt Asian market    Egypt's CBE offers EGP 3b in fixed coupon t-bonds    Egypt's PM pushes for 30,000 annual teacher appointments to address nationwide shortage    Nvidia to roll out next-gen AI chip platform in '26    Indian markets set to gain as polls show landslide Modi win    Egypt includes refugees and immigrants in the health care system    Grand Egyptian Museum opening: Madbouly reviews final preparations    Madinaty's inaugural Skydiving event boosts sports tourism appeal    Tunisia's President Saied reshuffles cabinet amidst political tension    US Embassy in Cairo brings world-famous Harlem Globetrotters to Egypt    Instagram Celebrates African Women in 'Made by Africa, Loved by the World' 2024 Campaign    US Biogen agrees to acquire HI-Bio for $1.8b    Egypt to build 58 hospitals by '25    Madinaty to host "Fly Over Madinaty" skydiving event    Swiss freeze on Russian assets dwindles to $6.36b in '23    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Uncertain Libyan prospects
Published in The Egyptian Gazette on 04 - 11 - 2011

CAIRO - Some Egyptian contracting companies perceive the current Libyan market as the lifeline that will save them from the deep economic recession. The January revolution and associated instabilities caused by a security breakdown and labour protests have taken their toll on many activities, which in turn slowed economic growth rates down.
However, Egyptian companies are not so optimistic about their share of the Libyan reconstruction cake, since NATO countries are expected to step in heavily in return for their support of the Libyan rebels in their bid to uproot a despotic ruler.
According to Mohamed Aglan, board member of the General Federation of Egyptian Contractors (GFEC), Egypt is not likely to get a reasonable share, since the NATO countries' potential is much bigger than that of Egyptian contractors.
However, the GFEC is reported to have already signed a co-operation protocol with its Libyan counterpart, whereby a small percentage of the reconstruction projects in Libya would be allocated to Egyptian companies.
According to GFEC, the protocol will come into effect after the naming of the new Libyan government.
Aglan said that Egyptian contracting companies accounted for merely one per cent of the work volume in the Libyan construction sector, which is dominated by Korean, Turkish, Chinese and American companies.
The chairman of the GFEC, Hassan Abdel Aziz, told Al-Shorouq independent daily that contracting activities would be confined to restoration. Enormous damage was done in the past few months due to a ferocious war between Libyan rebels and pro-Gaddafi forces.
In a relevant development, accredited training programmes are to be launched by the Egyptian Ministry of Manpower with a view of supplying the recovering Libyan market with a qualified construction labour force.
The proximity of the two countries has often created a large labour movement into Libya, where about two million Egyptians lived and worked before to the revolution.
Official estimates indicate that about 500,000 returned home, and many are already looking for new jobs in Libya, considering that the Egyptian unemployment rate has reached around 11.4 per cent.
As part of the projected Training Fund, the Manpower Ministry has chosen an initial group of 10,000 workers from different governorates, registered in the data base of the returning labour force, to be subject to vocational tests.
According to a Manpower Ministry statement, those who pass the tests would be granted certificates that entitle them to take part in reconstruction projects in Libya. Those who fail would be granted a second chance by attending a three-month training course in construction activities.
Manpower Minister Ahmed el-Boraei said earlier that these training certificates would comply with new standards set by the Libyan side to receive Egyptian workers.


Clic here to read the story from its source.