Clear path to overcome economic problems needed

Truly, Egypt has its own economic problems that are mainly triggered by the inability to use its potentials and skills to support the economy, the governor of the central bank has said. 

A clear path should be outlined to overcome those problems, Tareq Amer said during a workshop on the role of technology in supporting the national economy on Tuesday.

An updated legislation and objective media are needed to achieve economic development and support reforms, Amer said. 

The government cannot possibly pump huge investments into factories that depend mainly on imports, he noted. 

Amer called for defining investment priorities and enhancing the contribution of youth to economic reforms.

Banks should offer development and not just commercial services, the governor of the central bank said, urging them to secure funds for technology projects of youth.

Youth can very well contribute to running those technology projects that are funded by the banks, he noted. 

Communications Minister Yasser el Qadi also spoke during the workshop, which was held as part of the first national youth conference that was inaugurated by President Abdel Fattah El Sisi in the Red Sea resort city of Sharm el Sheikh earlier today. 

He made it clear that technology is a key factor in all economic sectors, such as tourism and finance.

An e-government project would sure contribute to reducing corruption levels, Yasser said. 

He added that his Ministry has been keen on upgrading Egypt Post using advanced technology.

Sherif Fat'hy, Egypt's Minister of Aviation, said innovative projects could greatly contribute to economic growth. 

Such projects, he added, should focus on effective marketing operations

Source: MENA