print logo

NYT: Young Entrepreneurs to generate economy growth, Egypt

Economic development in Egypt to reach for new horizons due to initiatives taken by the "Revolution Youth".
German Online News Service Pressemitteilungen Online (PMO) released an article, giving an account of the initiatives of the young Egyptian generation that could contribute to promoting the local economy.

Citing the New York Times, the News Service stated that the young Egyptians who carried out the protest in Tahrir Square - from the 25th of January till the 11th of February – are taking their economic future into their own hands, creating their own start-ups.

One of the main business models being used in Egypt today are online portals – for example the new Egyptian website “SuperMama”. Yasmine El-Mehairy, the founder of the online project, is optimistic since the fall of the former President Hosny Mubarak. PMO cites El-Mehairy: “The Revolution gave my generation the confidence we needed. After being able to topple a dictator, everything can be possible.”

According to the PMO, international businesses are already providing support for young Egyptian entrepreneurs, believing the latter need to learn from established businesses and especially need help in creating their business-plans.

Khush Chosky, Executive Director of the United States-Egypt Business Council, explained: “This is not your typical revolution. This is a revolution that was led by very well-educated, economically experienced and future-oriented people.” He continued: “Yet to make sure that what they fought for in Tahrir will really take place, we need economic growth, modern ways of thinking, and a broader economic horizon.”