During the ARTC inauguration took place on Monday
During the inauguration ceremony, Diaa Yehia, Country Head of Majid Al Futtaim Properties Egypt, said that a total of EGP 3 million were invested in the construction of the centre in collaboration with the European Bank for Reconstruction and Development and the State Secretariat for Economic Affairs of the Swiss Confederation.
The ARTC is implemented by Majid Al Futtaim and run by Education for Employment-Egypt at City Centre Almaza.
“ARTC is meant to extend the soft skills for trainees in line with Egypt’s Vision 2030, its sustainable development goal agenda, and all the presidential initiatives that aim to build and support human capital, especially in young people and women,” according to Yehia.
“Majid Al Futtaim Properties has invested EGP 44 billion in the Egyptian market over the past 10 years, creating around 3,000 direct job opportunities with an intention to expand these investments,” Yehia stated.
He added that Majid Al Futtaim has a robust presence in the Egyptian market.
The inauguration of the ARTC was attended by the representatives of global development agencies including the EBRD, People 1st International, Education for Employment-Egypt, and the Swiss embassy in Egypt.
Heike Harmgart, the EBRD’s managing director for the Southern and Eastern Mediterranean region, which is one of the main financers of the ARTC, said that this centre is a model of the required cooperation with the private sector.
On behalf of the EBRD, People 1st International has managed the development, execution, and evaluation process of the centre to meet the objectives of the project to train individuals.
Egypt has adopted a strategy to allow the private sector to play a greater role in the country’s economy and its development process.
In 2020, Egypt’s Ministry of Planning and Economic Development, in cooperation with the Terous Misr Foundation, launched an initiative encouraging the private sector to maintain employment and create new job opportunities amid the first wave of the pandemic.
From 2022 through 2024, Egypt’s government aims to increase the private sector’s participation in the development process and its contribution to the country’s economic activity to 50 percent, up from 30 percent.
This initiative is launched in collaboration with a wide range of businessmen and investors who are working in the Egyptian market.