CAIRO: The Ministry of Manpower, in accordance with the Egyptian Stock Exchange, vowed Thursday to support Egyptian workers and labor unions, the “backbone” of society. Ahmed El-Borai, minister of manpower, said a national plan is in the pipeline for the employment of the country's youth in the near future. “We believe in the right of workers to exist in the capital market as well as the existence of a trade union that will represent them and ensure their rights,” said El-Borai in a press conference at the Egyptian Stock Exchange, where he rang the opening bell of the trading session Thursday. The ministry plans to achieve a coherent balance between the number of graduates and the needs of the Egyptian labor market each year, pointing out that the ministry has recently received requests for employment from more than 4 million citizens. With 9 percent of unemployed youth citizens are competent and willing to work, the minister said the real problem is due to the presence of a large number of workers in the informal sector. While the country is in need of 850,000 jobs each year, the minister said they do not have official records for these workers and thus cannot officially track them or employ them in the positions needed in the market. Borai also acknowledged the dilemmas of the 545,000 Egyptian workers who are returning from Libya in light of the recent political turmoil that hit the country after Libyan rebels demanded the fall of Muammar Gaddafi, shortly after the Egyptian and Tunisian revolutions. The Social Development Fund will allocate LE 100 million to support small and medium enterprises for the benefit of returnees from Libya, he added. Acting Chairman of the Egyptian Stock Exchange, Mohamed Abdel Salam also emphasized that the professional development and enhancement of workers' skills are vital tasks. Abdel Salam pointed out that the country is heavily dependent on the income of foreign exchange from Egyptians working abroad, for example, and that their rights and voices must be taken into consideration. Also present at the press conference was Mahmoud Emara, president of the Federation of Egyptian workers in France who carried a message from the Egyptian community there. “After the revolution, Egyptians abroad want to see their demands met,” he said. “They want to exercise their right to vote in parliamentary and presidential elections and to be represented in their homeland's government.” He also pointed out that Egyptian media must do more to discuss these initiatives as well as the ideas of Egyptian citizens abroad who want to be able to contribute to their country's economy. The benchmark EGX 30 closed Thursday up 0.61 percent at 5,003.65 points while the broader EGX 100 was up 1.68 percent.
