Egypt’s economy showed high resilience during COVID-19 crisis: EU Ambassador

CAIRO – 30 March 2021: Ambassador and Head of the European Union Delegation to Egypt Christian Berger, said that Egypt’s economy showed high resilience during COVID-19 crisis.

During his speech at the BT 100 ceremony, Tuesday Berger explained that Egypt has successfully maintained macroeconomic and financial stability while safeguarding those who need it. He further called on the government to support small businesses to export.

Head of EU delegation to Egypt noted that EU is Egypt’s first partner representing 25 percent of the state’s total trade.

“Egypt has a huge potential to spearhead digital transformation in the region,” Berger said, adding that the EU is ready to back Egypt in the energy sector.

Berger said that world trade is down by 20 percent due to the pandemic. However as ‘Financing research and supporting pharmaceutical industry to produce vaccine was a must. Now, [supporting] recovery [is a must].”

He stated that the crisis raised the unemployment rate globally and that the EU allocate $4 trillion for a recovery program, Berger

BT100 is one of the most prestigious events in the business world in Egypt. Its held annually with the attendance of Cabinet members, businessmen, high profile companies, start-ups, celebrities and journalists.

BT100 is a tribute to the leaders of the governmental and private sectors, and corporate for their important and effective role in improving the Egyptian economy. The ceremony aims at encouraging other companies to improve their performance, and develop their marketing methods and their selling skills.

Candidates for the prizes were chosen according to certain criteria by the jury and evaluation to select a number of companies in different sectors, including the financial, industrial and investment sectors, the real estate sector, and the communications and information technology sector.

All candidates chosen based on certain criteria and standards that rely on market studies and research to evaluate the activities of all companies operating in the Egyptian market, including companies with innovative creative ideas and practical and effective solutions, in addition to prizes for the best corporate social responsibility initiatives, the best market share and investment performance, and the best sustainable agreements and partnerships between the private sector and the public sector that would serve the country's goals in the comprehensive economic development plan for Egypt 2030.