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ELITE ISSUE 13 , November 2019 Page 13
Cente@ fo@ Economic ReFea@ch and StudieF o@ganizeF a
in the presence of MR. public lectu@e about FuFtainability of fi@mF and it?F
Hisham TAwfik @elation to FuFtainable development
minster of public
Business Sector and
Mr Mohamed Farid the
chairman of Egyptian
stock exchange and
the dean of FEPS Dr.
Mahmoud El Said
Covered by: Dina Ehab
Under the auspices of the head of Cairo University Professor Mohamed Osman Elkhosht and
the dean of our Faculty and the head of center of economic and financial research and studies
Professor Mahmoud Elsaid, a session was held with title “firm’s sustainability and its relation
with sustainable development. Our guests were Minister Hisham Tawfik minster of public
work and Mr Mohamed Farid the chairman of Egyptian stock exchange. Dr Nagwa Samak the
head of Economic department and Dr Ahmed Belal the economic expert. And the moderator
of the session was Dr Adla Ragab.
The session started by welcoming the quests and then the guests started to say their words
to express their pleasure to be part of that session. And a sort of welcoming our guests the
faculty gave the minister our faculty honorary shield to honor him after finishing his words
The minster started his words by thanking all who prepared the session and then he talked
about the public work and the history of the firms in the public sector mentioning that the
public sector is not that big compared to others. He mentioned that there are 120 firm belong
to the public sector and 107 firm belong to other minsters. To reach “firms’ sustainability we
should focus on three aspects: the first one is about restructuring the firms as there were 48
loser firm because of the administration, and then they did SWOT analysis and hence the
could reach solutions for 26 firm. The second aspect is providing the required fund; and they
changed the uses of the lands and they are waiting for licenses to sell them in auctions to the
private sector for developing the lands. And the third is developing the system of work and its
administration as they discovered that the cost accounting was very low because the
monitoring body didn’t put in its consideration the cost accounting. So the gave courses to
the heads and mangers of 120 firm and 8 holding companies in accounting. Also marketing
was low in the public sector, so they established a marketing center in the 8 holding
companies. Also they are doing assessment to the top managers and classify them, and they
do 360 assessments to the executive council.
Dr Samiha Fawzy and Dr Alia Elmahdi who are professors in our faculty, they wanted to
participate in the discussion and directed some questions to the minster and Mr. Mohamed
Farid and they both responded to the questions.
Then Dr Nagwa Samk said her words, and they were answers about some questions like what
is firms’ sustainability? And what is its importance and disclosure about? What does social
responsibility mean? what are the international initiatives which have interest in this topic?
And MR. Mohamed Farid commented by saying that disclosure about sustainability is a
volunteering act and there are no international criteria about it.
On the other side Dr Ahmed Belal the economic expert and the founder of Dcarbon, his words
were about what is sustainability? And why are sustainable reports done on the firm level
and country level? And what does the word of sustainable reports mean? How are the
sustainable reports done?
And the session ended after Mr. Ahmed Belal words and the thanking of the guests, speakers
and attendees.
ELITE Issue 13, November 2019 Page 13
