Al-Mashat: It is necessary to commit to increasing investment in human capital to overcome the long-term impacts of Corona

/ 1966785 / Al-Mashat-the-necessity-obligation-to-increase-investment-in-human-capital-to-overcome-the-long-term-effects of the coronavirus

14:15 – Monday 4 July 2022

Dr. Rania Al-Mashat, Minister of International Cooperation, participated in the launch ceremony of the Human Development Report for the Arab States for 2022, issued by the United Nations Development Program, entitled “To achieve a comprehensive and resilient recovery in the post -Covid period “, in the presence of Achim Steiner, Director of the United Nations Development Program, Khaleda Moza, Assistant Secretary-General of the United Nations, Director of the United Arab Emirates Regional Development Office (UNDP) ), and many officials of international institutions and governments.

The report is the seventh edition of the Human Development Report for the Arab countries, as it reviews the impact of the Corona pandemic on human development in the region, and the measures taken by Arab countries to limit the outbreak of the disease and to mitigate its negatives. effects on the economy and citizens.

Dr. Rania Al-Mashat, Minister of International Cooperation, said in her video speech that the Human Development Report for the Arab Region for 2022 is being issued at an exceptional time, as the world is still taking some precautions against the Corona pandemic, as well as the tensions arising from the Russo-Ukrainian war, and which It causes adverse effects on trade flows, the rise in food and fuel prices, and its reflection on monetary tightening measures and their impact on investment and exacerbation of losses in emerging markets, pointing out that the Human Development Report addresses the steps that Arab countries need to take to improve their resilience in the face of challenges, strengthen social protection networks, reduce the digital divide and promote private sector growth for its leading role in achieving development.

She added that the Minister of International Cooperation, that the challenges posed by the current global conditions, collective action and the strengthening of multilateral cooperation, and partnerships between the public and private sectors require to address the challenges posed by achieving development and explained that, as indicated by the Arab Human Development Report, the Corona pandemic had a severe impact. In the short term, where countries have experienced loss of life as well as economic loss, and in the long term, policies need to be committed to improving investment in human capital. restores and strengthens resilience against future shocks.

The Minister of International Cooperation spoke about the five outcomes issued by the report on human development in the Arab countries, which focused on 5 main priorities: 1) diversification and transformation of the economies of the region to reduce macroeconomic fluctuations , 2) promoting growth to create decent jobs for the lowest income as well as the workforce, 3) Improving the investment climate and equal opportunities between large and small companies and local and foreign investors, 4) Increasing the access of women and small enterprises to finance, 5) Seeking regional economic integration to achieve benefits at the level of market expansion and exchange of benefits.

The Minister of International Cooperation explained that Egypt is working under the leadership of President Abdel Fattah El-Sisi to improve cooperation with Arab countries, and the Ministry of International Cooperation is working in the light of these efforts to activate regional integration through joint Arab committees, as well as the Council of Arab Economic Unity to promote joint Arab action at economic levels commercial and human development capabilities.

Al-Mashat noted that Egypt is one of the few countries in the world to achieve a positive growth rate during the Corona pandemic, due to the large national projects it has implemented and plans to invest in human capital and social protection. improves, and points out that the government aims through its program “Egypt Launches” As well as presidential initiatives, especially the “Decent Life” initiative, to promote inclusive and sustainable growth, increase investment in human capital, create a workforce which is able to adapt to the requirements of the Fourth Industry. Revolution, and promotes inclusive, green and sustainable economic growth.

She noted that the losses suffered by the world as a result of the Corona pandemic confirmed the need to prioritize investment in human capital to accelerate the pace of global recovery and bring about the resilience of societies in the face of future shocks. and note that the unequal impact between developing and developed countries provides further evidence that the The international community is moving forward to bridge the development gap between countries.

It is noteworthy that the Human Development Report for the Arab Countries for the year 2022 assesses the impact of the COVID-19 pandemic on Arab lands and its successive effects on the path of sustainable development in the region. Although more than two years have passed since the outbreak of the epidemic in the region and the world, its impact on the prospects for development in the Arab world is still clear today.

The report reviews the status of human development in the Arab countries and analyzes the impact of the Covid-19 pandemic on systems, institutions and relationships, based on all dimensions of capabilities and human development related to governance, economy and society, in particular since these dimensions, in their pre-pandemic status, occupied a large part of the region’s response and recovery. At the same time, the report assesses how this global shock has affected the Arab world and how existing programs and response measures have addressed the health crisis, from the perspective of post-pandemic response and recovery efforts. It also discusses in detail the broader implications for governments, economies and societies in the region, as well as the prospects for a resilient recovery.

Leave a Comment