[Video] Egypt’s entrepreneurial environment in the age of COVID-19: Experts share their thoughts. In the Business Dynamics sub-indicator of Growth of Innovative Companies, Egypt enjoys a positive ranking of 29 in the world. Egypt’s lowest score was in the Ability to Innovate pillar at 39.6, against a regional average of 41.3. Egypt was the best performer in the security and safety index, infrastructure and ports, and natural resources, according to the 2019 World Economic Forum’s Travel and Tourism Competitiveness Report released in September, also topping the MENA region in terms of environmental sustainability, cultural resources and business travel. Data for the first nine months of FY19 show that this pickup is driven by net exports, as goods and services exports inched up in tandem with a contraction of oil imports. Putting a positive spin on where Egypt performed poorly in the report, Abdel Latif said that these weaknesses and issues should be seen as opportunities for investment and areas to be targeted for improvement. Out of the 12 sub-indicators under Labour Market, Egypt ranked in the top 50 in four of them, which among them include Flexibility of Determining Wages (14), Cooperation in Employer-Worker Relations (46), and Internal Labour Movement (46). Focusing his view on startups, he went on to say that the report’s figures didn’t take into account any of the achievements reached in Egypt’s tech scene. Out of the 12 pillars, Egypt performed higher than the regional average in Infrastructure and Market Size, scoring 73.1 and 73.6 respectively, while the MENA averages were 70.5 and 69.9 respectively. This is almost 40 points short of the “frontier”. Ismail said that Schmidt had told him that there was too much focus on traditional and physical infrastructure such as roads and bridges in Egypt. Tarek Tawfik, Vice Chairman, ECES; Dr. Abla Abdel Latif, Executive Director and Director of Research, … Part 3 - Comments of Discussant (Part 2/2): Eng. The Global Competitiveness Report 2019 FREN 09/10/2019. In Education & Skills, Egypt did well in the Digital Skills Among the Active Population (44) sub-indicator, yet ranked below the top 100 with regards to Teaching of Critical Thinking Skills (123), Quality of Vocational Training (129), and Graduate Skills (133). Real GDP growth reached 5.6% in FY19, up from 5.3% in FY18. The analysis presented in the Global Competitiveness Report 2019 (herein: “Report”) is based on a methodology integrating the latest statistics from international organizations and a survey of executives. Global. The analysis is done using a new tool for assessing national economic productivity — Global Competitiveness Index 4.0. Sector spotlight series [Pt 2]: Egypt’s grocery retail industry, The Going Global Series [PT1]: How Azza Fahmy set foot in London and Los Angeles, Subscribe to receive the Business Forward digest with our latest content straight to your inbox, Pillar 3: Information & Communications Technology (ICT) adoption. However, Egypt’s ranking slipped this year in ICT and Health, falling from 100 to 106 in the former, and from 99 to 103 in the latter. He shared a conversation he had with Eric Schmidt, the former CEO of Google, years ago at a conference they both attended. It provides evidence-based analysis on the characteristics of entrepreneurship in Egypt, with the objective of guiding policy decisions, institution building and investments decisions. Egypt’s score for 2019 was 54.5, a 0.9 increase from it’s score of 53.6 in 2018. We are ranked 124, close to the bottom of the 141 participating countries, for the cost of starting a business. The Global Competitiveness Report (GCR) is a yearly report published by the World Economic Forum.Since 2004, the Global Competitiveness Report ranks countries based on the Global Competitiveness Index, developed by Xavier Sala-i-Martin and Elsa V. Artadi. Middle East and North Africa TTCI 2019 Scores ... the region was able to slightly outpace the global average in competitiveness growth. Where we haven’t: Egypt’s ranking for macroeconomic stability continues to fall, and both this and ICT adoption are well below the market average. Taking global rankings in each pillar into account, Egypt’s highest ranking of 23 came in market size, while it’s lowest ranking was its macroeconomic stability at 135 out of 141. In terms of Health, there was only one sub-indicator, that of the life expectancy of individuals in good health in which Egypt ranked 103. Copyrights © 2017 The American University in Cairo School of Business • All Rights Reserved. Ft. Youssef Boutrous Ghaly. It is a global competitiveness gap that is particularly concerning, given the world economy faces the prospect of a downturn. from 2018 ... 93 Egypt 54.5 +1 +1.0 94 Namibia 54.5 +6 +1.8 2018 Diff. Enabling Digitalization Index 2019 Designed by Indigo. With 12 of the 15 MENA economies covered by this year’s index increasing their score compared to 2017, the region was able to slightly outpace the global average in competitiveness growth. Is Egypt’s car-centric development damaging the economy? On the 9th of October, the Egyptian Center for Economic Studies (ECES) held a seminar on Egypt’s ranking in the World Economic Forum’s Global Competitiveness Report 2019. Decoding the Economics of COVID-19: how will economies survive? The methodology, developed in collaboration with leading experts and practitioners through a three-year consultative process, is designed What explains the increase in remittances during the COVID-19 crisis? Egypt’s global rankings in eight of the 12 pillars improved in 2019 from last year, while it remained the same for Macroeconomic Stability and Education & Skills. Egypt ranked 93rd in the Global Competitiveness Index, up from 94th in 2018, and ninth among Arab countries, according to the Global Competitiveness Report for 2019 issued by … Sector spotlight series [Pt 1]: The garments and home textile industries. Competitiveness report, economy, digitisations. Under Infrastructure, Egypt ranked in the top 20 of the world with regards to Communications with International Shipping Networks (18). One was the quality of vocational and technical education, which he said needs to be improved, pointing out that the stigma around those kinds of education has to be tackled. Download free notes PDF and for more on IAS Exam 2021 preparation, follow BYJU’S. The country experienced one of the biggest drops from 56/140 in 2018 (60.0 pctl) to 64/141 in 2019 (54.6 pctl). Egypt El Salvador Equatorial Guinea Eritrea ... 2019 Resource Type. A given country’s competitiveness indicator is measured out of a figure of 100, with 0 being the worst score and 100 being the best. Business Forward AUC will use the information you provide on this form to be in touch with you and to provide updates and marketing. Competitiveness Index in Egypt averaged 15.37 Points from 2007 until 2019, reaching an all time high of 54.54 Points in 2019 and a record low of 3.60 Points in 2015. The World Economic Forum presents its annual report (Global Competitiveness Report 2018) where the WEF experts analyze global, regional, and national economies with the aim of identifying key factors that affect productivity. South Africa (60), Seychelles (78), Botswana (91) and Namibia (94) are in the top 100 out of 141 countries covered by the report. Regarding the sub-indicators (which are each ranked globally) within each of the pillars, here are some details of some of the ones that stood out: Under the pillar of Institutions, among the sub-indicators Egypt performed well in were the Government’s Response to Change (23), Management of Shareholders’ Equity (28), Property Rights (34), and Renewable Energy Regulation (32). As we noted last year, Egypt has a significantly larger market size than the regional average. The Middle East and North Africa (MENA) region significantly improved its T&T competitiveness since the last edition of the TTCI. However, Egypt performed below average on all other pillars, particularly in ICT (40.6), Health (65), Macroeconomic Stability (44.7), and Education & Skills (53.2). Our daily roundup of economics, business and must-read news, delivered to your inbox Sunday-Thursday before 7am Cairo Local Time (5am GMT). He explained that by turning things such as recycling into an industry, startups have been able to make many improvements to productivity in areas that the government hasn’t been able to approach for decades. Egypt ranked 93rd out of 140 countries on the World Economic Forum’s 2019 Global Competitiveness Index, rising one place from last year’s ranking of 94. After the report was presented to the participants and attendees, the prime minister’s economic advisor stressed that improving the rankings isn’t and shouldn’t be the ultimate goal. By upgrading the skills of Egypt’s workforce, wages would increase and living standards would improve as a result. The IMF raised its expectations for Egypt's GDP growth to reach 3.5% this year, compared to 2% in its June 2020 report, which makes Egypt among the three best economies in the Mediterranean and Central Asia regions. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. Country. Copyrights © 2017 The American University in Cairo School of Business • All Rights Reserved. Since Egypt’s GDP per capita and savings rates are low, this doesn’t make the country attractive to investors, she revealed. Fikry also stressed on the importance of readying Egyptian workers for the Fourth Industrial Revolution, a term widely used to describe the current era of sweeping technological change and innovation, which includes artificial intelligence, robotics, and the internet of things (IoT), among others. equity and the enhancement of the country’s global competitiveness. © 2020 Enterprise Ventures LLC. The Global Competitiveness Report (GCR) is a yearly report published by the World … COMPETITIVENESS REPORT 2019 Eight Competitiveness Lab. You can download the report in full here (pdf). Competitiveness Rank in Egypt averaged 93.46 from 2007 until 2019, reaching an all time high of 119 in 2015 and a record low of 70 in 2010. Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. It is #2 in 'ICT Adoption'. Home Content Global Competitiveness Report of Entrepreneurship Entrepreneurship is clearly seen as the key to economic growth and job creation around the world. Egypt is the 93 most competitive nation in the world out of 140 countries ranked in the 2018 edition of the Global Competitiveness Report published by the World Economic Forum. The WEF Global Competitiveness Report 2019 10 years since the global financial crisis, the global economy remains in a cycle of low/flat productivity, says the World Economic Forum. Tarek Tawfik, Vice Chairman, ECES; Dr. Abla Abdel Latif, Executive Director and Director of Research, … However, the groupings are slightly … According to the 2019 World Economic Forum’s Travel and Tourism Competitiveness Report released in September, Egypt moved up nine places to rank 65th overall worldwide. While the report cites the skill level of the labor market as having improved from last year, we don’t score highly at all for critical thinking in teaching. Classification of economies by geographic region is based on that of the United Nations Statistics Division. We also don’t fare well for trade openness. What should be prioritised is providing Egyptians with high-speed internet and the education to use it effectively and exploit its full potential. Key figures were invited to discuss the findings, including Dr. Gehan Saleh, who advises the Egyptian prime minister on economic affairs; Mr. Seif Allah Fahmy, the chairman of the Egyptian National Competitiveness Council (ENCC); Engineer Hany Tawfik, the former president of the Egyptian and Arab Private Equity Association; Dr. Ahmed Fikry Abdel Wahab, general manager and CEO of Egyptian German Automotive (EGA); and Dr Khaled Ismail, the founder and chairman of the angel investment fund, Kiangel. Qatar was ranked 29th globally and second in the Arab world, according to the Global Competitiveness Report 2019, published annually by the World Economic Forum (WEF), in … Yet is within the bottom 30 with regards to Dealing with Entrepreneurial Risks (117) and Cost of Starting a Business as a % of GNP (124). To reflect the effects of Globalization and the Fourth Industrial Revolution, the World Economic Forum introduced last year the new Global Competitiveness Index 4.0, a new economic compass, building on 40 years of experience of benchmarking the drivers of long-term competitiveness. Global Competitiveness Report 2019. Other well performed areas were Road Infrastructure (28), Efficiency of Seaport (41) and Air Freight (46) services, as well as Quality of Road Networks (48). This is particularly important given that, in the aggregate, T&T accounts for a greater share of regional GD… The World Economic Forum has published its new Global Competitiveness Report 2019. School of Business American University in Cairo AUC Avenue – P.O. competitiveness and attractiveness. Is e-commerce witnessing a boom in Egypt? All the Egyptian companies were from across the country’s agricultural, industrial, and service sectors. Based on the income levels set out by the World Economic Forum (WEF) in its Global Competitiveness Report. Data, Data. Part 3 - Comments of Discussant (Part 2/2): Eng. The seminar was also attended by Engineer Tarek Tawfik, the ECES’s vice chairman, as well as Dr Abla Abdel Latif, the centre’s executive director and director of research. Global competitiveness is not another term for cheap labour or low taxes. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. The WEF Global Competitiveness Report 2019 10 years since the global financial crisis, the global economy remains in a cycle of low/flat productivity, says the World Economic Forum. Egypt scored 54.54 points out of 100 on the 2018 Global Competitiveness Report published by the World Economic Forum. Ismail’s view was that entrepreneurship had significantly developed in Egypt, something that the report didn’t reflect. 3 THE 2019 EIGHT INTERNATIONAL The Global Competitiveness Report 2019 FREN 09/10/2019. UAE up 2 ranks. The Travel and Tourism Competitiveness Report 2019. Readings for the burden of government regulation and corruption have improved — areas that were faring worse last year than in previous years. 11 percent of the companies were from the agricultural sector; 33 percent were from the industrial sector; while 56 percent of them were in the service sector. Each of these indicators are broken down into several pillars which amount to a total of 12. 15 of the countries are from the Middle East and North Africa (MENA), where Egypt ranks 13th, ahead of Iran and bottom-ranked Yemen. Egypt ranked 93rd out of 140 countries on the World Economic Forum’s 2019 Global Competitiveness Index, rising one place from last year’s ranking of 94. Competitiveness Rank in Egypt averaged 93.46 from 2007 until 2019, reaching an all time high of 119 in … The World Economic Forum presents its annual report (Global Competitiveness Report 2018) where the WEF experts analyze global, regional, and national economies with the aim of identifying key factors that affect productivity. Op-ed: Together we can, through “voluntourism”? GEM Egypt report is a key resource for policy makers, practitioners, and development organizations. Before that, the macroeconomic ranks were based on Jeffrey Sachs's Growth Development Index and the … The 2018 edition of the Global Competitiveness Report represents a milestone in the four-decade history of the series, with the introduction of the new Global Competitiveness Index 4.0. Egypt improved by one place to 93 rd in the World Economic Forum’s 2019 Global Competitiveness Index (GCI).. Data in this Report is subject to change without notice. Flexibility: a keyword for business schools in today’s changing contexts. “Namibia has moved up six positions in the Global Competitiveness Report rankings for 2019, from number 100 to 94 now. The analysis presented in the Global Competitiveness Report 2019 (herein: “Report”) is based on a methodology integrating the latest statistics from international organizations and a survey of executives. She explained that there needed to be a focus on training to boost individual workers’ productivity. Adding to that, Dr Ahmed Fikry discussed the importance of what he thought were two main aspects of the labour market. 15 of the countries are from the Middle East and North Africa (MENA), where Egypt ranks 13 th , ahead of Iran and bottom-ranked Yemen. 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The methodology, developed in collaboration with leading experts and practitioners through a three-year consultative process, is designed World Economic Outlook Report: A long and difficult ascent. In the pillar of Ability to Innovate, Egypt ranked quite well in the sub-indicators of Workforce Diversity (12), Excellence of Research Institutions (38), and Scientific Publications (48). Designed by Indigo. Egypt’s score for 2019 was 54.5, a 0.9 increase from it’s score of 53.6 in 2018. This score ranks Egypt 94 out of 141 countries surveyed. Each of these 12 pillars are then broken down into a total of 103 sub-indicators. Global Competitiveness Report is published by the World Economic Forum (WEF). The UAE retains its #1 position globally in 'Macro-Economic Stability' on the World Economic Forum rankings. The eagerly awaited 2019 edition of the World Economic Forum's Global Competitiveness Report, which ranks the competitiveness of 141 countries worldwide, places the Grand Duchy in 18th place overall. However, Egypt performed very poorly when it came to Quality of Land Management (111), Social Capital (128), Freedom of the Press (132), and Incidence of Terrorism (136). With higher levels of internet access and literacy, Ismail continued, more Egyptians would create business opportunities and new industries that would contribute to the economy in a way which would negate improvements to traditional infrastructure. Op-ed: Entrepreneurship education to reap the potential harvest of a young population. In the Global Competitiveness Report released last week, only Mauritius was ranked 52. There was an error while trying to send your request. Learn more facts about Global Competitive Report 2019 and India’s rank in Global Competitiveness Index (GCI 4.0). You have successfully subscribed to the newsletter. Box 74 New Cairo 11835 Egypt Email: BusinessForward@aucegypt.edu, Copyrights © 2017 The American University in Cairo School of Business • All Rights Reserved. The Global Competitiveness Report 2018 (herein: “Report”) presents information and data that were compiled and/or collected by the World Economic Forum (all information and data referred herein as “Data”). Try your Gmail or Yahoo address if you have issues receiving Enterprise on your corporate email. THE GLOBAL TALENT COMPETITIVENESS INDEX 2019 v PREFACE Preface The Global Talent Competitiveness Index (GTCI) report continues to gain in visibility around the world, and today has firmly es-tablished itself as a global benchmark for issues related to talent competitiveness … Egypt improved by one place to 93 rd in the World Economic Forum’s 2019 Global Competitiveness Index (GCI).. Findings of the Global Investment Competitiveness Report 2019-2020 are based on surveys—a large survey of over 2,400 global business executives in ten large middle-income countries conducted in the second half of 2019 and a smaller “pulse” survey in March and April 2020. The second aspect was the workforce falling behind on digital skills, which reflects how the Egyptian economy may be overall falling behind in digitalisation. Quality Infrastructure. The Global Competitiveness Report 2019 | xiii. Kiangel’s founder and chairman, Dr Khaled Ismail, weighed in with his views on how important the internet and tech sectors are to Egypt’s economy, criticising the report for not showing how much tech start-ups have contributed so far. Global Competitiveness and Covid-19 contact us at +91 124 437 6676 info@competitiveness.in amitkapoor , 26th April 2020 8th May 2020 , Covid 19 , Speaking , 0 Abdel Latif added that most of the data was also drawn from international indices and statistical data from specialised international bodies and institutions. Contrastingly, Egypt ranked poorly in five of them including Worker’s Rights (104), Income Tax Rates (121), and the Gender Pay Gap (131). How will COVID-19 affect innovation investments? The report added that Egypt jumped from 60th to fifth place in tourism promotion and marketing strategy, and moved up nine places to rank 65th worldwide. This score ranks Egypt 94 out of 141 countries surveyed. The Global Competitiveness Report 2019 reveals an average across the 141 economies covered of 61 points. Under Financial System, Egypt had a healthy ranking of 41 on the sub-indicator of Financing of Small-to-Medium Sized Enterprises. Global Gender Gap Index, 2019, Travel & Tourism Competitiveness Report, Global Information Technology Report, 2016 (discontinued), The Global Enabling Trade Report, LinkedIn membership by field of study and geography, 2017, LinkedIn membership by field of study, 2017, Skills of LinkedIn members, by age and degree specialization, 2017, Egypt is also in the bottom five globally when it comes to Inflation Rate (136), one of the sub-indicators for Macroeconomic Stability. All business sizes were contacted including small, medium-sized, and large corporations. The analysis is done using a new tool for assessing national economic productivity — Global Competitiveness Index 4.0. Where we’ve improved: Egypt is on a general upward trajectory, with our institutions, infrastructure, labor market, financial system, business dynamism, and innovation capability all receiving higher scores than last year. We also score highly for SME financing and the growth of innovative companies. The four main global competitiveness indicators are 1) Enabling Environment; 2) Human Capital; 3) Markets; and 4) Innovation Environment. Besides reports on its key events and standalone publications such as the Global Competitiveness Report, the Global Risks Report and the Global Gender Gap Report, the Forum produces landmark titles covering the environment, education, individual industries and technologies. On improving Egypt’s competitiveness, Ismail added that the space for youth and establishing startups needs to be freed up. That means the Grand Duchy has risen by one place since the 2018 edition. Egypt had the fourth-highest performance improvement in the World Economic Forum’s Travel and Tourism Competitiveness Index 2019, the World Travel and Tourism Council awarded Egypt the annual “2019 Global Champion Award” for promoting It tops the overall ranking in the Arab world. Instead, Saleh emphasised that improving standards of living and overall quality of life across the country is the government’s main economic priority. “Bad internet is a huge obstacle,” he said. Egypt. Under ICT, Egypt ranked in the bottom 40 in all but one of the sub-indicators, among them the Percentage of the Population That Uses the Internet (98). 2019 Scores... the region was able to slightly outpace the Global Competitiveness Report Avenue – P.O 2019 an. Of what he thought were two main aspects of the 141 economies covered of 61 points to. Op-Ed: Together we can, through “ voluntourism ” Ability to Innovate pillar at,. Egypt had a healthy ranking of 29 in the top 20 of the world economy faces prospect! Of life these indicators are broken down into a total of 12 global competitiveness report 2019 egypt. Key resource for policy makers, practitioners, and service sectors 40 points short of the labour market ranked. 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