Never too late:
industrialization, services and technology
Egypt,
since the major period of industrialization under the Nasser administration,
fell back on the international arena to a mere import oriented economy relying
for its most on foreign production to fulfill its market’s needs. Nowadays,
after a toppled regime and a genuine declared war against corruption and
centralization, the Egyptian economy is ready to engage once more in the
competitive sector of major industries spanning from the petrochemical sector to
the production and assembly of automobiles and military weapons. The
educational system in Egypt is one which is acknowledged for its quality and
excellence, a success mostly witnessed through top class intellectuals and
engineers whom Egypt exports throughout the world.
One would
doubt the necessity and indeed the potential attributes of an imminent
industrialization in Egypt, especially in a world which industrial wheel has
been rotating since the 19th century, but the current situation in
the Middle East and especially the Gulf attests of a different reality.
Acetex,
Corporation has entered a newly formed joint venture to build a US 1 Billion $
plant in Jubail Industrial City in Saudi Arabia[1],
and this comes after Qatar built the biggest gas-to-liquid plant at the grand
pleasure of the Qatari Emir. The region is witnessing a fervent ascension to
major industrialization, and it is a favorable time for Egypt to enroll in such
efforts.
Whether
through implementing gas and petroleum refinery plants in joint ventures with
the gulf countries as did Tunisia along Qatar in a 2 Billion 2$ Investment[2]
(Especially that the oil and gas fields in Egypt are poorly exploited through
an old and inefficient exploitation and delivery infrastructure), or be it
through the privatization of the state owned plants in order to reform and
improve the soviet dated firms and production lines to the requirements of the
21st century.
Another
aspect of the Egyptian economy is its large agricultural activities which
account for 13.5% of the GDP. Looking back at the wealthy fields across the
Nile strikes the viewer immediately: the scene never exceeds the view of poor
installations, few human resources and archaic tools of production. Nations
with far smaller land mass whose workforce in the agricultural sector is
dwarfed by that of Egypt still manages to have a colossal input in the world
market. What is needed is indeed a reform and improvement of the mean of
productions in Egypt, a qualification of the workforce and the introduction of
technology, genetic selection and mass production in the agricultural fields. This
will boost not only the productivity, but will as well expand the usable land
mass in the vast desertic fields as what is been done in Saudi Arabia and co.
Egypt is
rich in resources, and the abundant oil, gas, iron, manganese, limestone or phosphates
are here to further confirm it. The human resources to exploit these natural
riches are as well in excess, so what is needed is a true political willingness
to advance the economic competitively of Egypt instead of using induces poverty
and illiteracy as political tools to enslave the people as has been done during
the Mubarak Era.
Furthermore,
the prospects of monetary rehabilitation are appealing, and the necessity for
Egypt to uphold thus far a diplomatic and strategic foreign policy supportive
of the US is more than encouraged in order to secure the American Billions of
dollars’ worth of aid. This, coupled with an up to market prices trade with
Israel over the oil exports would enrich the state monetary reserves of another
dozen of billions $. Finally, the alignment of Egypt with the West and the gulf
countries in their effort to ignite a war against Iran will inevitably poor on
the Egyptian reserves juicy banknotes issued by the petro-dollar rich and
grateful gulf nations for the Egyptian
efforts to sustain “peace and stability” to the region.
An enhanced
industrialization, a fierce war on corruption and a rehabilitation of the
monetary system and relief of the aggregating debts is to engage Egypt in the
path of economic competitiveness and major industrial production, a deeply
needed pathway where the economic survival of the nation ultimately rests.
To be Continued...
Next: Political Reforms
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