Egypt's current account gap narrows, but overall BoP records deficit    Egypt's PM reviews debt reduction strategy, eyes more private investment    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt, India discuss expanding industrial, investment partnerships    World Bank proposes Egypt join new global health initiative    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Egypt welcomes 25-nation statement urging end to Gaza war    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian pound ticks down in early Tuesday trading    Famine kills more Gaza children as Israel tightens siege amid global outrage    Kuwait's Crown Prince, Egyptian minister discuss strengthening cooperation    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Egypt's FM seeks deeper economic, security ties on five-nation West Africa tour    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Egypt exports 175K tons of food in one week    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, Uruguay eager to expand trade across key sectors    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    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    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.



Arab businessmen urge accelerated economic reform
Published in Daily News Egypt on 15 - 04 - 2007

CAIRO: Arab businessmen have pointed out that economic growth is not related to democratic reform in the region, which has seen sustained growth for the fourth year running.
"There is no democracy in the Arab world, said Mazen S. Darwazeh, co-chairman of the roundtable and Chairman of Hikma Pharmaceuticals in Jordan.
Khalid Abdulla-Janahi, Vice-Chairman of the ABC and Chairman of the Executive Committee at the Shamil Bank of Bahrain, Switzerland said "Democracy is important, but there can be economic growth without it such as in China and India.
Darwazeh added: "We live in a schizophrenic state, where we say something and do something else. I can't just claim I'm democratic and do what I want. Governments should just say what they want. We're supposed to work together to achieve the same goals.
Members of the Arab Business Council (ABC) speaking at the Arab World Competitiveness Roundtable held in Doha last week said they had taken the initiative to Arab governments with mixed results.
The Arab businessmen are calling for governments to work with them hand in hand to speed up the reform process in the region.
"What we have been doing in the last two years is engaging with governments, Mohammed Shafik Gabr, Chairman of the Arab Business Council and Managing Director of the Artoc Group in Egypt told The Daily Star Egypt.
"[And] the Arab Business Council has visited ten Arab countries. Some have engaged, some have politely listened and some don't want to.
"Arab governments can't afford to not deal with the private sector. They have to act and cannot be passive, Darwazeh told The Daily Star Egypt, "we engage with them. We still have a lot to work for, but I'm optimistic.
Other businessmen believe the onus is on the private sector to push for government cooperation.
Janahi told The Daily Star Egypt: "We must take the initiative because governments won't allow us in. The responsibility is on the shoulders of the private sector. It's not just about competition between us, but it's about where we are from the rest of the world. We are still behind in many things.
Gabr believes that an aggressive approach is needed to bring the governments and private sectors together.
He said: "Persistence, patience, the right partner and going back again and again. Maybe the government itself will be willing but vested business interests might not.
On maintaining growth in the region Darwazeh said that "there is still a lot of work on sustaining the standards we have reached , adding that unemployment is a big challenge.
The ABC was created as a direct result of the 2002 Arab Competitiveness report, which was mostly negative in its findings.


Clic here to read the story from its source.