THE EGYPTIAN National Competitiveness Council (ENCC) launched its seventh Annual Egyptian Competitiveness Report, Green Egypt: A Vision for Tomorrow, on Monday. The council strongly advocates a green transformation of Egypt's economy. This, the report says, will underwrite the country's sustainability and economic growth. "Green economy is the best means to attract more investment and create more job opportunities. Many developed and developing countries set a good example," said Helmi Abul-Eish, chairman of ENCC, during the launch of the report. The report defines "green transformation" as the transition to a low- carbon economy characterised by new and renewable energy and sustainable environmental practices. According to Rachid Mohamed Rachid, minister of trade and industry, Egypt faces tremendous challenges in the 21st century. "The world is moving very fast and we have to realise that our ability to grow is strongly bound to our ability to develop at the same pace," he said, adding that greening the economy would provide solutions to two major concerns, namely the scarcity of water and energy resources. Experts believe that greening the economy would have a favourable impact on all Egyptian industries as they compete on the basis of modern, global and environmental standards. However, the transformation to a green economy would demand robust policy on the part of the government. "The government policy of subsidising the consumption of water and the use of traditional energy sources works against the green transformation," said Rachid. Fortunately, Egypt has excellent wind and solar energy potentials, and ambitious plans exist for expanding the use of these renewable sources of energy while some concrete results in this direction have already been achieved. "A strategy to produce 12 per cent of total electricity generation in 2020 from wind has been stipulated by the Egyptian Supreme Council for Energy," said the report. Beyond energy, the green economy applies to all sectors, including agriculture, housing, IT and human resources. According to Abul-Eish, a council on green economy will soon be established under the ENCC umbrella, to set priorities with concerned Egyptian ministries in pursuit of more sustainable economic practices. The council will address issues related to the efficient use of energy, the wider use of alternative energies, and better management of waste, among other things.
