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Transforming Egypt Seminar Series Discusses Renewable Energy and Egypt’s GDP, Energy Security

Sep 25, 2014

The third Transforming Egypt seminar series at AUC School of Business hosted Sherife AbdelMessih, CEO, Future Energy Corporation and chairman, SPARK, discussing "How Renewable Energy can Double Egypt's GDP and Increase Energy Security."

It was moderated by Hamid Ali, associate professor and chair of the Department of Public Policy and Administration, School of Global Affairs and Public Policy.

“For Egypt in particular, for the inclusive growth, for the economic opportunity; energy would be the core of the growth engine,” said Ali in his welcome note.

AbdelMessih briefly identified the importance of the use of the renewable energy for Egypt and how it will tackle lots of problems.

“We are seeing a transition of going from an energy sector that has very high price rate to one that is price stable, one that is finite in resources and limited in supply, to one that is infinite in resources and unlimited in supply; one that causes plenty of environmental problems and crisis, to one that is extremely environmental friendly,” explained AbdelMessih.

“It is an industry in Egypt that will double GDP, create millions of jobs, and increase energy security,” he added.

Attendees contributed in the discussion by raising a number of questions and comments. The majority of these centered on what are the reasons this can’t be achieved and what are the most important thing that needs to be done to enable Egypt to go for renewable energy.

AbdelMessih also pointed out that renewable is not a soft issue; it is a very important topic of the country; it has to be a political priority and have the government approval.

Ali concluded the series by figuring out that the renewable energy is the future, the technology that drives our life now and will drive our future as well.

Finally, Nizar Becheikh, associate dean for graduate studies and research, gave AbdelMessih a certificate of appreciation.

The fourth installment in the Transforming Egypt series hosted Ahmed Aboulmajd, senior programs manager, curative care, Health Unit, Misr El Kheir Foundation, to explore "Human Development in Egypt: How Can NGOs Make a Real Difference?"

“What kind of roles NGOs should be playing, have been playing, or will be playing in the future, is actually derived from how they saturated in the middle of a group of stakeholders, ministries and local authorities?" he asked. “NGOs interact directly with the community, beneficiaries, fundraisers, regulatory bodies, and volunteers."

Aboulmajd concluded his discussion by stating that working in NGOs in no like other sectors. “If you don’t have the passion to help others, and if you don’t see you are not doing any change on the ground, I don’t advice you to go to NGOs,” he explained.

The Transforming Egypt Seminar Series aims at providing a platform for discussion between economists and policymakers in a transitioning Egypt.