National Business Agenda
The EJB has taken the lead in analyzing Egyptian Competitiveness, using the tools and benchmarks provided by the World Economic Forum. This program was initiated in early October 2003 with the aim of providing the business community with a greater opportunity to participate in the development of a policy framework, aimed at increasing the Egyptian economy's competitiveness.
The National Business Agenda, on its part, highlights the needed and desirable reforms, using the platform of the competitiveness report, which led to the establishment of the Egyptian National Competitiveness Council, induced by the EJB, the Egyptian International Economic Forum and the Arab Business Council. Accordingly, the Egyptian National Competitiveness Council has released its competitiveness reports.In light of the objectives of the EJB that include enhancing the role of the private sector in the economic growth process, and raising the public awareness on competitiveness issues, the agenda identified specific
national constraints (whether they take the form of policy or regulation) as well as specific sectoral (in the field of manufacturing, Textiles, and services) constraints. Several doable recommendations were suggested to tackle such constraints. The sectors included in this agenda represent a large portion of Egyptian Gross Domestic Product, employ a large portion of the labor force, and have huge export potentials.
In undertaking the challenge of drawing the road-map of competitiveness in Egypt, as explained by the national business agenda, the EJB has taken a four step approach to effectively determine the real challenges facing the national economy, and develop appropriate and effective policies for improving competitiveness:
1. Developing sector focus groups. (committees)
2. Holding regular meetings to identify challenges facing each sector.
3. Prioritizing the issues according to the threat level for the industry and developing policy recommendations.
4. Creating action plans for the implementation phase and communicating with the relevant authority. Based on the problematic factors identified, each sectoral group has developed a set of recommendations and action plans to tackle these problematic fac
Besides the national challenges that were appropriately tackled in the agenda, where solutions to solve them. Those were addressed while stating the governmental partners needed to meet them. The agenda also identified similar sectoral challenges in the aforementioned sectors. In a nutshell, the NBA represents a form of the new social contract between the government and the private sector where the latter is heavily involved in the reform process. Despite the fact that it represents the EJB’s own point of view, the consultation undertaken to have the agenda, in its ready camera format, ensures that it reflects a consensus on the challenges of the Egyptian economy’s competitiveness.
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It all started with a shared belief among EJB members of the importance of Small and Medium Enterprises in the development of Egypt. This important segment has a tremendous unleashed potential to positively impact the growth of the economy, create job opportunities and realize the aspirations of many entrepreneurs who represent the back-bone of a healthy economy.
Growth of a business being an SME or a large enterprise is a multi-dimensional undertaking and we,as Banking and Finance Committee, chose the dimension by which we can help SMEs grow through “successfully securing appropriate financing means”.When analyzing the current situation of SMEs finance we came up with the following realizations:First,SMEs growth and finance is a responsibility shared by various stakeholders; regulators, financial institutions as well the SMEs themselves. Second, the various stake holders had to engage in an open dialogue to candidly discuss their problems.
A team from the Finance and Banking Committee was formed, with the ultimate goal of spreading financing awareness among SMEs through the issuance of the first“SMEs Access to Finance Guide” in Egypt. We held six seminars, each addressing one of the fields of finance. The first seminar was truly remarkable, the SMEs were the ones speaking, and the finance people were the ones hearing their problems. Each of the following seminars hosted a group of financial experts tackling the various problems facing SMEs and their access to finance. SMEs companies were present, discussions were open, and the long waited for dialogue had started. Banking, leasing, Private Equities and Venture Capital, Factoring and the stock market (NILEX), were all discussed in those seminars and the outcome was used as the seed for the guide.
We aimed to write a manual that translate the language of finance professionals to SMEs and in doing so securing the financing needed for growth. A manual that would help SMEs pursue the most appropriate type of financing based on their industry and particular circumstances.
Corporate Governance Manual
Who Uses this Manual?
This manual is designed for Family members leading or taking part in managing an existing enterprise owned by their families. It further caters for the needs of businesses still contemplated for establishment by a family head or a group of relatives regardless of the ranking of their family ties. It is noteworthy that several generic aspects of corporate governance, in this manual, relate to non-family establishments as well.
How to Use this Manual?
This manual is designed to provide a user-friendly approach based on the ‘ACME’ - g a m e principle for development and corporate restructuring. The g a m e principle establishes the development process towards corporate governance - customarily referred to as the corporate structuring/restructuring process - through four distinct phases. The family (non-family) entity should effectuate those phases sequentially in order to attain the aspired structurally governed corporate. Those phases, namely, are the g-phase, the a-phase, the m-phase and the e-phase
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