Egypt’s Economic Democracy

One of the main drivers of the January 25th Revolution was the peoples’ demand for a better life through economic independence and salvation. While the revolution has thus far been extremely successful, achieving in less than 6  months more than we have ever hoped for in the past 60 years, it has not changed the fact that  more than 40% of the Egypt’s population still survives on less than $2 a day.

Understandably, without the guarantee of political system reform, the successes of restructuring the economic system will be lost and the goal of modernization cannot be realized. Yet while the focus falls on Egypt’s political and social reform, we strongly believe that true democracy will not be achieved or sustained without having a clear vision of Egypt’s new economic system.

“What economic path do we want to take and how will we get there?” Simple questions with no right or wrong answer; so as we try and lay a new foundation for trade and investment in Egypt, we turn to our global friends and partners for an open and transparent dialogue to formulate sound policies which will govern the way we do business together in this new era of a democratic Egypt.  The focus, day in and day out, has to be on business development and job creation. It is vital that we work together as a diverse group of thinkers to develop strategies that will pull Egypt from this national recession and launch a new future of reformed economic thinking.

 

By: Ashraf Mohamed Naguib

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