By: Mai Shaheen
Dr. Mohamed Othman Elkhosht, President of Cairo University, said that the university is entering into a new orbit and setting an Arab strategy for the transformation of the digital economy in cooperation with the Arab Economic Unity Council of the League of Arab States and the Government of the UAE Armed forces.
"We signed the agreement months ago between Cairo University and the Council of Arab Economic Unity to develop the Arab strategic vision for the transformation of the digital economy through the oldest research centers in the university, the Center for Economic and Financial Research and Studies at Faculty of Economics and Political Science." Elkhosht said through his official account on Facebook.
The President of the university said: "The conference of the" Arab Digital Economy " ended in the presence of all international organizations in the UAE capital Abu Dhabi, in its first edition under the patronage of Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. With the joint Arab vision for the digital economy being launched to activate and strengthen Arab cooperation based on digital knowledge, there is a need to develop technological and legislative infrastructure, and support digital transformation plans and technological development in the Arab countries.
"The conference is the new platform for designing a strategic map for investments, policy formulation and technology development by embracing the restructuring of processes, products and services using digital technology," Elkhosht said.
In addition to, the president said: "The digital economy is the new stage and the heart of the Fourth Industrial Revolution and it will affect everything, even paper currencies, because the future has no room for paper. It will be all for smart and digital transactions. Hence, I believe that the strategy of transition to the digital economy will affect the future. Paper transactions, and in the near future will be an integral part of this strategy is the introduction of dealing on electronic currency as a limited transaction, and then when the establishment and build confidence and the strength of the appropriate legal mechanisms and legislation we can reach in the future may be distant towards electronic currencies.
Therefore, the strategy of the Arab digital economy is paying attention to this dimension, which is being prepared by a distinguished research team from Cairo University.
"I hope that this strategy will be implemented on the ground and not in the old sense of Arab economic unity, which was a difficult dream to achieve in the past because it was an unrealistic idea." Elkhosht noted that.
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