The role of Egypt’s big business will center more on national economic revival, move away from a pre-2011 focus on politics
Big business in Egypt has been excluded from politics post-2011 but will now focus on the country’s economic revival, Amr Adly writes in a research paper for the Carnegie Middle East Center. Adly says “businessmen who were influential under the Mubarak regime have seen a reduction in their political role and their ability to influence and implement policies.” He believes “big business” would in the coming years “limit the focus of its policy activism and influence to corporate institutions—whether business associations or chambers of commerce and industry—instead of aiming to occupy executive or parliamentary posts… Large enterprises will become less reliant on political connections to secure profits, market shares, and rent; these enterprises’ growing transnationalization will allow them to be shielded from upheavals at home; and influential businessmen will begin exploiting their enterprises’ impact on economic revival. As all of these developments take place, the role of large enterprises will likely expand further.” Adly concludes his arguments by saying that “a more balanced relationship between enterprises and the state would benefit both, inducing them to develop institutional avenues of mutual cooperation. The Egyptian economy can only gain as a consequence.”