German ambassador to Egypt, Mr. Michael Bock, inaugurated this morning the second branch of "National Employment Pact"(NEP), which was founded by the German government's funds in the aftermath of 25th January Revolution with the aim of providing jobs suitable for the Egyptian youth. It was founded in association with the private sector companies and the non-governmental institutions. The inauguration was attended by Dr. Rainer Herret- CEO, German-Arab Chamber of Industry and Commerce, Eng. Mohamed El-Mahdi- Board Chairman and CEO of Siemens Company and Tanja Lohmann, GIZ Coordinator, in addition to some representatives of the initiative's steering committee and the participating companies. The German Ambassador, on the sidelines of the inauguration, stressed the significance of the project because it is different from the other German projects and has no connection with the political systems and bureaucracy in the ministries; indicating that the government's target is to support Egypt and improve the conditions, particularly after the revolution and declining the economy rates. On his part, Rainer Herret- CEO, German-Arab Chamber of Industry and Commerce, said the initiative was financed by the German government at 75%, and 25% by the private sector companies; referring that the total value is €300.000 annually. The initiative takes in nearly 1200 companies that cooperate in providing jobs for the youth. This number rises with the increase of the companies. The project, in the coming period, aims to orient to Upper Egypt and Alexandria so as to provide jobs suitable for the youth in these areas. Mohamed El-Mahdi- Board Chairman and CEO of Siemens Company, said the idea is based on making the initiative as a connecting link between the job seekers and the companies seek for employers. He referred that the initiative received 24.000job vacancies in a number of companies in return for 12.000 applicants. El-Mahdi has mentioned that the initiative is keen to implement a number of criteria to secure the youth's rights, regarding the health insurance, the minimum limit for wages and the items of work contract.
