Page 12 - Issue 59

ELITE
Vol.1

Issue 59

September I already have a bachelor’s degree in Unfortunately, the high inflation rate causes
agriculture, and I have a background in the people to fear investing and cling to their savings,
2023 file and attended many conferences on the and Egypt responded to that by offering
topic of climate change. But I wanted to know certificates with higher interest paid in advance
more details about the problems of the earth’s up to 19% and 20% because that is what the
temperature and the details of the climate investment market is looking for now, and the
crisis because I was interested in the film very only way to establish projects. These certificates
much. I wonder how many of the 14 million reassure investors’ fears as they are safer
Egyptians abroad have such interest in investments than investing directly in projects, as
strategic files close to their specialization. We evidenced by the fact that billions of pounds
have many specialists in this field, including a flowed into the banks immediately after Egypt
member of the General Union of Egyptians announced investment certificates with 22%
Abroad, Professor Dr. Hisham Al-Askari, interest. The global crisis creates in people the
who is one of the vice presidents and idea of fear and hoarding rather than saving or
specializes in water surfaces and is known for investing, which does not allow for the
his expertise in the file of climate change. On establishment of projects. The second challenge
the other hand, how many of the 14 million is the bureaucracy and difficulty of procedures.
non-specialists thought that they wanted to The laws have been amended and improved to
know more and educate themselves? We counter this problem, but the employees
Egyptians unfortunately have a problem with responsible for applying them still prolong the
interest in education and reading, which procedures unnecessarily, and therefore the
makes us invest in projects looking only at the people in charge of this work must be qualified.
material gain and not to the message or We are now in the digital age, and people must
benefit that this project can achieve. This have training courses to eradicate computer
means that the material motive is the motive illiteracy and be sufficiently prepared to learn
that I should target in promoting the projects, new technologies. One of the problems that faced
because of the lack of comprehension, the new education system with the tablet was the
awareness, and interest in global problems ignorance of the teachers themselves of how to
such as climate change, as people’s basic apply and use it, which is a complaint I received
priority is to invest their money in a profitable from my relatives and friends who were related
investment that enables them to return to their to this matter, most of them are at an age that
homeland after a long exile. This is the naked does not allow them to learn new technologies
truth. without intensive training. Therefore, the
solution to this problem in my opinion is to train
From your point of view, for Egyptians abroad
those in charge of the business with the
to become more influential in national projects,
technology necessary to manage it, and I am
especially those specialized in sustainable
confident that this matter is taken into account
development as the slogan of Egypt’s Vision
but it needs time and material capabilities to
2030, what are the challenges that they must
apply it.
overcome?
I pity His Excellency the President because of the
I mention as a first challenge the unstable
dilapidated state that he found the country in
currency rate, due to the global crisis and
when he took over its administration, without
unprecedented inflation rates everywhere that
projects, land, roads, or agriculture, and it would
no one can control. Even in Britain, the
have collapsed like Greece now had he not taken
inflation rate is very high, and I remember a
over its administration at this time. Greece had
statement from a few days ago that even the
reached the stage of bankruptcy had it not been
current British Prime Minister’s plan to
for the support of the European Union.
reduce it will fail in 2024, and no one can
11 predict what will happen.