|
AMCHAM REACHES OUT
This summer, AmCham Egypt went on
the road with several initiatives to meet US investors on their
home ground. Our traditional annual DoorKnocks are immensely useful,
since we meet with the administration, members of congress, policy-makers
and the business community to update them on economic developments
experienced first-hand. But in a fast-changing political environment
and with strong global economic competition, DoorKnocks aren’t
enough. In the interest of expanding our outreach, and direct focus
towards deepening our rapport with our US counterparts, and above
all creating a consistent Egyptian presence in America’s market
place, AmCham organized and took part in several big events.
New York’s St. Regis Hotel was the prestigious venue for an
AmCham luncheon and panel discussion focused on information technology
in Egypt. AmCham staff traveled two weeks prior to the June 22 event
to handle arrangements, and they did their job exceedingly well.
Our sponsors were Cisco Systems, Morgan Stanley, Microsoft, Citigroup,
Lucent Technologies, The Bank of New York, and Telecom & Technology
Company, Egypt. Given this level of sponsorship, attendance was
excellent, drawing some of America’s strongest IT players
and representatives of New York’s financial community. Members
of the speakers’ panel included John Meyer, president of Lucent
Worldwide Services, and Robert Shepardson, managing director for
global capital markets, Morgan Stanley, New York, and myself.
Minister of Communication and Information Technology Tarek Kamel
was the keynote speaker. He made an outstanding presentation, describing
the explosive growth of Egypt’s IT sector, alongside its investment
opportunities. IT is a major economic success story for Egypt, one
that proves our capabilities and advantages. Kamel impressed the
public, and helped demonstrate the government’s commitment
to promoting private sector activities serving the country at large.
A month earlier, at the Waldorf Astoria, AmCham used the same formula,
combining influential sponsors and a distinguished audience of New
York business and financial community members with a full day conference
led this time by Mahmoud Mohieldin, minister of investment, and
Ziad Bahaa El Din, head of Egypt’s Investment Authority. The
Bank of New York and Citigroup sponsored the event focused on economic
reform and investment, and it was another success. The point is
that Egypt has a story to tell, and AmCham has taken the lead in
creating new forums for communicating our message.
From New York, I traveled to Houston to attend the US-Arab Economic
Forum in my capacities as AmCham president and president of the
MENA-AmCham Council. The forum’s motto is “One World.
Two Cultures. Endless Possibilities.” Its first gathering
was post-9/11, and this was the second. Amr Moussa opened the event
with his usual engaging style. The forum was attended by a host
of Arab ministers and ambassadors, big oil representatives and US
dignitaries, including Karen Hughes, head of US Public Diplomacy,
and David Welch, US undersecretary of state for Middle Eastern Affairs.
At this event, attended by 1,100 people, I spoke about the Arab
world’s unemployment problem, the need to create 80-100 million
jobs by 2020 – a mind-boggling challenge – and the economic,
social and political implications if we fail. For starters, we need
to maintain a 7-8 percent consistent annual growth rate, region
wide. Obviously, recent events in Lebanon, as well as other lingering
conflicts, only take us tragically farther from such goals.
Regional integration is nevertheless key to our success, and last
year in Beirut, AmChams from Lebanon, Tunisia, Morocco, Algeria
and Jordan launched the MENA Council to promote it. Our interregional
trade is the world’s lowest, hovering around 8 percent. AmCham’s
initiative to facilitate private sector efforts across borders can
only help. In Houston, Bahrain signed on to the MENA Council, and
we started discussions with the UAE. The more countries that join,
the more closely we work together, the better chance we have to
create a Greater Middle East Free Trade Area.
The last stop was Colorado, where I attended the Aspen Institute’s
Ideas Festival. The Aspen Institute is a highly influential organization
that for the purpose of this six-day gathering unites over a thousand
heavyweights from all disciplines. Members of the US intelligentsia,
artistic community, film industry and government gathered to air
ideas about leadership, politics, economic and trade issues, health,
education and the environment. Between lectures and formal and informal
discussions, this was a great chance to dialogue with people who
affect public opinion and decision-making in the US, but have little
direct experience with the Middle East.
Indeed, part of our region’s problem is that although our
combined economic force is potentially great, we have no unified,
credible voice in world affairs. In the absence of regional cooperation
– not to mention peace – development will be difficult.
We need to deliver our message by reaching out, but if we hope to
influence decision-making abroad we must first reach consensus at
home. AmCham Egypt stands at the forefront of efforts to pool the
region’s private sector resources, while urging and working
with governments towards reform. Meanwhile, we’ll not only
take, but create, every opportunity we can to make our voices heard.
TAHER HELMY
President, AmCham Egypt
Submit
your comment
Top
|
