The youth economy…a promising national project to support entrepreneurship and the digital economy
The youth economy represents one of the main axes for achieving sustainable development, based on the vital role that youth play in driving economic growth and promoting innovation and entrepreneurship; Youth represent the driving energy of development, the human capital capable of transforming ideas into projects, and challenges into opportunities that contribute to advancing the national economy.
Therefore, investing in their capabilities, providing them with opportunities, and listening to their visions is a necessary path to promoting development and achieving a more prosperous future.
In Egypt, youth are receiving increasing attention from the Egyptian state, which places their empowerment and involvement in various development paths among its priorities, in the belief thatListening to their ideas, and providing a supportive environment to unleash their energies, represent an essential foundation for building the future, and are consistent with the goals of Egypt’s Vision 2030.
Strengthening integration between state institutions
In implementation of the directives of Mr. President Abdel Fattah El-Sisi, President of the Republic, to increase the contribution of youth to economic activity, and within the framework of integration between various state institutions, Dr. Ahmed Rostom, Minister of Planning and Economic Development, received Mr. Gohar Nabil, Minister of Youth and Sports, to discuss the executive mechanisms of the Youth Economy Project.
The project aims to enhance the contribution of young people to the development efforts implemented by the state, and to transform their energies into effective contributions, within the framework of the government’s work program emanating from “Egypt Vision 2030.”
The Minister of Planning and Economic Development stressed the Ministry’s keenness toProviding all aspects of support for the success of this project, which is of utmost importance within the state’s vision of human building, improving the standard of living of citizens, and localizing the Sustainable Development Goals (SDGs), especially Goal (8), which calls for providing decent work and economic growth, and Goal (9), which supports industry, innovation, and infrastructure.
Supporting the competitive advantages of governorates
Dr. Ahmed Rustom explained that the Ministry of Planning and Economic Development, through its follow-up to the “Decent Life” initiative and the social and economic development plan, possesses accurate and updated databases for the governorates, stressing the Ministry’s readiness to provide the necessary information to the Ministry of Youth and Sports, in cooperation with the Central Agency for Public Mobilization and Statistics, to determine the relative advantages of each governorate and maximize benefit.Some of them support local development efforts.
Pointing to the importance of maximizing the use of national capabilities available to support the implementation of the youth economy project, he explained that the Egypt Center for Entrepreneurship and Innovation will play a pivotal role in building youth capabilities, enhancing the culture of self-employment, and supporting emerging companies at various stages of their growth, thus contributing to consolidating the entrepreneurship and innovation system.
Transforming youth energies into productive power
The Ministry of Youth and Sports confirmed that the Youth Economy Initiative represents an ambitious national project aimed at transforming youth energies into a real productive force, stressing that its success depends on the integration of roles between ministries to connect youth with actual investment opportunities, and maximizing the benefit of each governorate’s competitive advantages.
This was stressed by the Minister of YouthSports emphasize the importance and necessity of maximizing the use of fixed assets affiliated with the Ministry of Youth and Sports, such as youth centres, sports and youth development centres, and youth and sports cities, and transforming these facilities into integrated community, economic and investment institutions, which in turn will lead to reducing the financial burden on the state budget through asset management in innovative investment methods.
A national map to economically empower youth
The meeting witnessed a detailed review of the Youth Economy Initiative, which aims to build a development model linking youth and the local economy, by preparing a national map of competitive advantages in the governorates, identifying promising sectors, and monitoring labor market needs, in addition to providing programs for vocational qualification and entrepreneurship in a way that contributes to creating sustainable job opportunities and stimulating…Local investment.
The stages of implementing the initiative include institutional preparation, then pilot application in a number of governorates, leading to generalization at the republic level, with the creation of a national database and a digital dashboard to support decision-making and measure performance indicators. The initiative also aims to achieve a number of development returns, including enhancing spatial justice in the distribution of investments, supporting the local economy, reducing internal migration, and achieving social stability.
The initiative utilizes the capabilities of the Ministry of Youth and Sports, including youth centers, sports facilities, youth cities, and civic education centers, to be supportive platforms for entrepreneurship, the digital and green economy, incubating micro-enterprises, and linking young people with financing agencies and investors, in preparation for launching it in experimental governorates before spreading it to various parts of the Republic.
In conclusion, the importance of the Youth Economy Project extends to building a different model for the role of youth within the development system, so that they become active partners in shaping the future of the local economy. Linking youth energies to the competitive advantages of governorates, and providing rehabilitation, financing and innovation tools, opens the way for production models capable of achieving sustainable societal and economic value.
For its part, The Earth Guards Foundation appreciates the national efforts and projects aimed at empowering young people and enhancing their participation in development paths, based on its belief that investing in young energies represents an essential pillar for achieving Sustainable Development Goals (SDGs) and building societies more capable of innovation and adaptation to changes.
