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Investment Min. Hails President's Initiative on Human Capital
Source: 10/13/2018

Minister of Investment Sahar Nasr hailed an initiative launched by President Abdel Fattah El Sisi to invest in human capital, asserting it will make a quantum leap in Egypt.

She made the remarks during her participation in a meeting on investment in the human capital on the sidelines of the annual meetings of the World Bank and the IMF in Indonesia's city of Bali.

The initiative, to be carried out in collaboration with the private sector, aims at developing youth skills and keeping them abreast of the labor market's needs, Nasr said.

It is also meant to upgrade education and health care sectors, in addition to social protection networks, she added.

The event was chaired by World Bank President Jim Yong Kim and attended by a number of the bank officials, including African states' delegates in the bank, as well as representatives of the private sector, notably Chinese billionaire Jack Ma.

During the meeting, Nasr clarified that the government is working on implementing the political leadership' directives on increasing financial allocations for the health and education sectors and programs for youth training and qualification.

In this regard, she called on international finance institutions to provide more support for Egypt with a view to promoting human capital investment.

For his part, the World Bank president commended accomplishments that Egypt made in the human capital field, lauding President Sisi's initiative on this score and Egypt's keenness to secure the necessary funding to back the health and education areas, as well as youth initiatives.

The World Bank had contributed to about one billion dollars to shore up the health and education sectors in the country, Jim Yong Kim said.

In her talks with Jack Ma, the founder of the e-commerce giant Alibaba, the investment minister called on the Chinese tycoon to take part in the Africa Forum 2018, which will run from December 8 to 9 in the Red Sea resort city of Sharm El Shiekh.

The forum is organized under the auspices of President Abdel Fattah El Sisi.

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