Special to AG-IP-News Agency 

CAIRO – The Cairo-based Al-Jomhuria daily newspaper’s Cultural Salon has recently hosted HE Dr. Talal Abu-Ghazaleh, founder and chairman of Talal Abu-Ghazaleh Global (TAG.Global), to talk about his own perspective on the global events and the impact of the current world economic crisis on the Arab countries.  

The session, held at Dar Al Tahrir for Printing and Publishing in Cairo, was moderated by Mr. Abdel-Razek Tawfik, editor-in-chief of the Al Jomhuria, in the presence of a group of senior writers, editors and media professionals in Egypt. 

Dr. Abu-Ghazaleh affirmed that Egypt is a stable country under a conscious leadership, which enabled it to make significant headway in economic reform; based on statistics and figures reflected by the economic indicators, which, in his view, is very promising and encouraging. 

He called on all stakeholders in Egypt to focus on innovation, saying, “The whole picture is very clear now. For the first time, we live in a world without a global leadership; and indeed, it is run in a different and unprecedented way, where all the international organizations have become ineffective.”

Referring to the progress China is making he expressed his belief that China –described as the “factory of the world”- is expected to become the world’s largest economy next year, whereas, the US sees China as the only major competitor for its economy. 

Therefore he described the Russian-Ukrainian war as the first war of its kind; an economic war that targets China. However, he said that every day the war continues the whole world would suffer; which necessitates initiating negotiations to come up with a New World Order led by two major powers: the US and Britain on one side, and Russia with China on the other.

“As negotiations continue, a single global currency would be created, and the US will resolve the issue of global Internet governance and will not allow others to interfere in it; being its sole owner and founder,” Dr. Abu-Ghazaleh stated. 

On the sideline of the session, a press conference was organized during which Dr. Abu-Ghazaleh reviewed his views on various issues including economic conflict and the available opportunities for the Arabs, for Egypt,  the global economic crisis, and the global warming issues. He said, “We are in a unique situation and the optimal action to take is to observe the situation day by day due to lack of clarity.” 

Regarding the possibility of creating an economic integration among the Arab countries, Dr. Abu-Ghazaleh said: “This is a dream that can be achieved through digital integration between public, private and business sector institutions.” However, he added, that the political differences among many Arab countries make any agreements difficult to implement.  

He further touched on TAG.Global’s manufacturing experience, pointing out that the Organization was successfully able to enter the world of manufacturing, by establishing the first technological devices’ factory of its kind, in partnership with Samsung. Following that the Organization, then, established a factory in China for the manufacturing of laptops, tablets and smartphones, after the success it achieved, then, TAG.Global proudly established a factory in Egypt in partnership with the Arab Organization for Industrialization. 

Dr. Abu-Ghazaleh commended the cooperation between TAG.Global and Egypt’s institutions in several areas, pointing out that TAG.Global has established the first University College for Innovation (TAGUCI) in Jordan that graduates students based on creating and introducing innovative projects.

Dr. Abu-Ghazaleh concluded by referring to cooperation between TAG.Global and Egypt's Education Development Fund to soon  establish a similar college to TAGUCI at Misr University for Science and Technology.