Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt exports first high-tech potato seeds to Uzbekistan after opening market    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Federal Reserve maintains interest rates    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    58 days that exposed IMF's contradictions on Egypt    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    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.



OECD workshop looks at local business climate
Published in Almasry Alyoum on 16 - 03 - 2010

Egypt's Ministry of Investment, in partnership with the European Commission, has hired the Organization for Economic Cooperation and Development (OECD) to study its current investment policies and issue recommendations on how to improve the country's overall business climate and on what reforms the government should implement.
In the second part of its three-phase Business Climate Development Strategy (BCDS), which employs the concept of best practice as a measuring stick for Egypt's performance, the OECD recently held a three-day workshop in hopes of getting feedback from participants.
Workshop attendees were candid in their remarks, if for no other reason than to help the OECD in its task of assessing how business is conducted in Egypt. "We must try to stop producing useless people," said Gamal Abu Taleb, chairman of a local consultancy. "Vocational schools are appalling."
The national labor force--or "human capital"--is only one of 12 factors in the BCDS, which also takes into account access-to-finance and legal issues, such as corruption and government policies on taxes, trade and investment.
Along with trying to help millions of employed and unemployed improve their skills, the strategy is also aimed at boosting overall national product. "Economic growth is not just about firms, but also the human capital that underpins the economy," said OECD economist Ania Thiemann.
Since the main concern of most businesses is that their workforces are equipped with useful skills, the thinking goes, professional education and business should therefore be brought into alignment.
This, however, is seldom the case, according to workshop attendees. They called for more engagement by the private sector, both in terms of investment in training and by explaining their future needs to educators.
"We don't have this sort of sectoral vision of where we want to be in 20 years," said Ahmed Kamaly, assistant professor of Economics at the American University in Cairo.
Abu Taleb also complains of the lack of an overall plan for educating the workforce, either by companies or by the government. Despite being involved in strategy discussions since 2007, he says, the government has failed to produce any substantial framework for action. "We can't expect the students to define the country's strategy," he said.
While the government has taken steps to invest in professional education, critics say this education is not being applied in the right places. One problem, according to one workshop attendee, is that much of the money for training has been poured into large companies instead of small- to medium-sized enterprises.
Some have argued that, since big companies hire more people than anyone else, more people will benefit by training their staffs. But critics note that large, profitable companies can generally afford to pay for training themselves--as opposed to smaller companies with limited resources.
Policy changes, however, are not always easy within the bounds of an established bureaucracy. The OECD puts it this way: "The centralized management of the budget creates an unequal distribution of resources… The currently adopted approach of one-size-fits-all is outdated and threatens to weaken the rural areas when compared to the urban."
The detailed BCDS strategy--comprised of 242 indicators--is intended to address the most important issues for business, so that, not only are workforces more skilled and better educated, but more and better job opportunities are also created.
The OECD--which is primarily concerned with issues of free markets and democracy--also has a regional investment program, which aims to stimulate the private investment that drives job growth.
The OECD's stated goal in working with the Egyptian government is to help the latter improve the local business climate and contribute to the financial security of the growing population.
"We have to do things in a practical way," said Abu Taleb, "within our means and in a sustainable way."


Clic here to read the story from its source.