Ahmed Zaki, who serves as the Secretary-General of the Exporters’ Division at the Cairo Chamber of Commerce and holds significant leadership roles at both the Federation of Chambers of Commerce (FEDCOC) and the Council of Arab Economic Unity (CAEU), has articulated a compelling vision for overhauling Egypt’s economic framework. He advocates for a comprehensive restructuring aimed at resolving critical challenges facing the economy. Central to his vision is the empowerment of the youth, whose innovative potential he believes is essential for driving industrial advancement and formulating effective marketing strategies.
Zaki pointed out that many young Egyptians have already made notable achievements in adjacent markets, positioning them as invaluable contributors to the country’s economic progress. In his assessment, Zaki draws attention to the current turmoil within the private sector, particularly highlighting the alarming number of factory closures in recent years. He urges the government to thoroughly investigate the underlying issues leading to these shutdowns and to take decisive measures to facilitate the reopening of these facilities. Reviving these factories, he argues, would not only combat unemployment but also create essential job opportunities for the workforce.
To foster a sustainable economic climate, Zaki advocates for a renewed focus on localizing industries, boosting export growth, and tackling systemic challenges, including the prolonged delays in goods clearance at ports that pose significant threats to the industrial sector. He calls for enhanced support for manufacturers, urging the government to assist investors in refining their products, improving quality, and scaling production capabilities. Such steps, he believes, would help lower costs and increase competitiveness across various sectors.
Zaki acknowledges the government’s initiatives aimed at introducing favorable loan conditions and other supportive measures, recognizing their importance in revitalizing factories and enhancing industrial engagement. Nevertheless, he emphasizes the necessity for further actions, such as implementing tax exemptions for a period of two to three years. Such incentives would enable factories to expand their operations, introduce new production lines, and establish additional facilities, thereby amplifying the industrial sector’s contribution to the national economy.
He also underscores the critical need for better access to market intelligence, particularly regarding international markets, to empower manufacturers. Enhanced access to such information is expected to bolster Egypt’s export capabilities and improve the global standing of domestic products. In his recommendations, Zaki stresses the importance of supporting exporters, increasing reimbursement for export-related expenses, and reinforcing Egypt’s stature in global trade.
He urges the government to allocate necessary resources to create an environment conducive to the success of Egyptian manufacturers in the international arena.
In conclusion, Zaki advocates for a renewal of leadership within Egypt’s industrial and commercial sectors—individuals who possess both the expertise and innovative perspectives required to propel the country’s economic system forward. By embracing fresh talent and empowering younger generations, he envisions a vibrant and sustainable economic future for Egypt.
