Part 3 - Comments of Discussant (Part 2/2): Eng. The methodology, developed in collaboration with leading experts and practitioners through a three-year consultative process, is designed Competitiveness report, economy, digitisations. You have successfully subscribed to the newsletter. 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). All business sizes were contacted including small, medium-sized, and large corporations. Designed by Indigo. Before that, the macroeconomic ranks were based on Jeffrey Sachs's Growth Development Index and the … Decoding the Economics of COVID-19: how will economies survive? Ft. Youssef Boutrous Ghaly. 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. As we noted last year, Egypt has a significantly larger market size than the regional average. Egypt’s lowest score was in the Ability to Innovate pillar at 39.6, against a regional average of 41.3. Global Competitiveness Report 2019. Classification of economies by geographic region is based on that of the United Nations Statistics Division. equity and the enhancement of the country’s global competitiveness. “Bad internet is a huge obstacle,” he said. Please try again. Op-ed: Entrepreneurship education to reap the potential harvest of a young population. The four main global competitiveness indicators are 1) Enabling Environment; 2) Human Capital; 3) Markets; and 4) Innovation Environment. 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. 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. She explained that there needed to be a focus on training to boost individual workers’ productivity. We are ranked 124, close to the bottom of the 141 participating countries, for the cost of starting a business. Is Egypt’s car-centric development damaging the economy? 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. 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. 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. 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. 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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. It provides evidence-based analysis on the characteristics of entrepreneurship in Egypt, with the objective of guiding policy decisions, institution building and investments decisions. © 2020 Enterprise Ventures LLC. 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. Readings for the burden of government regulation and corruption have improved — areas that were faring worse last year than in previous years. 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. Sector spotlight series [Pt 1]: The garments and home textile industries. We also score highly for SME financing and the growth of innovative companies. 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. Almost all pillars dipped in its ranks despite the Philippines maintaining its overall score of 62/100. Copyrights © 2017 The American University in Cairo School of Business • All Rights Reserved. Our daily roundup of economics, business and must-read news, delivered to your inbox Sunday-Thursday before 7am Cairo Local Time (5am GMT). Copyrights © 2017 The American University in Cairo School of Business • All Rights Reserved. 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). 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. Egypt’s score for 2019 was 54.5, a 0.9 increase from it’s score of 53.6 in 2018. 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. All the Egyptian companies were from across the country’s agricultural, industrial, and service sectors. UAE up 2 ranks. Instead, Saleh emphasised that improving standards of living and overall quality of life across the country is the government’s main economic priority. Data in this Report is subject to change without notice. The World Economic Forum has published its new Global Competitiveness Report 2019. 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. In the Global Competitiveness Report released last week, only Mauritius was ranked 52. South Africa (60), Seychelles (78), Botswana (91) and Namibia (94) are in the top 100 out of 141 countries covered by the report. The analysis is done using a new tool for assessing national economic productivity — Global Competitiveness Index 4.0. This score ranks Egypt 94 out of 141 countries surveyed. 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. Each of these 12 pillars are then broken down into a total of 103 sub-indicators. 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. The Global Competitiveness Report 2019 | xiii. Each of these indicators are broken down into several pillars which amount to a total of 12. In the Business Dynamics sub-indicator of Growth of Innovative Companies, Egypt enjoys a positive ranking of 29 in the world. 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. 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 … Based on the income levels set out by the World Economic Forum (WEF) in its Global Competitiveness Report. The Global Competitiveness Report 2019 FREN 09/10/2019. It is #2 in 'ICT Adoption'. 3 THE 2019 EIGHT INTERNATIONAL competitiveness and attractiveness. 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. You can download the report in full here (pdf). Is e-commerce witnessing a boom in Egypt? 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. 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. What explains the increase in remittances during the COVID-19 crisis? 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. 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. 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. Part 3 - Comments of Discussant (Part 2/2): Eng. 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. 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 … 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 2019 FREN 09/10/2019. 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 Egypt’s score for 2019 was 54.5, a 0.9 increase from it’s score of 53.6 in 2018. Being the Egyptian partner of the World Economic Forum, much of the data compiled in the report was gathered by the ECES through questionnaires they sent out to executives of companies in Egypt to fill out. The second aspect was the workforce falling behind on digital skills, which reflects how the Egyptian economy may be overall falling behind in digitalisation. 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. Business Forward AUC will use the information you provide on this form to be in touch with you and to provide updates and marketing. 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”). 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. Egypt improved by one place to 93 rd in the World Economic Forum’s 2019 Global Competitiveness Index (GCI).. The Travel and Tourism Competitiveness Report 2019. 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 performed below average on all other pillars, particularly in ICT (40.6), Health (65), Macroeconomic Stability (44.7), and Education & Skills (53.2). The importance of what he thought were two main aspects of the 141 economies covered of 61 points companies Egypt! Productivity — Global Competitiveness Index 4.0 2019 rankings 2018 Diff op-ed: education. 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