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Council of Ministers

Sofia, Bulgaria

February 5, 2012

SECRETARY CLINTON: Well, it’s an honor to be back in this beautiful country and to have a chance to demonstrate the very strong partnership and friendship between the United States and Bulgaria. I promised the people of Bulgaria that the United States will stand with you, and we have done so. And we are very impressed and proud of the extraordinary progress that has been made and the strong relationship between the Bulgarian and American people and governments.

I would like to thank the prime minister for receiving me today and for the excellent discussions that our two teams have just concluded. I also want to thank the president, whom I met earlier, and the foreign minister, with whom I work on a regular basis throughout the year.

The prime minister and I just had a very productive meeting. It underscored the depth and range of the partnership between us. As NATO allies, Bulgaria and the United States work side by side around the world to address critical issues, from ensuring a successful transition in Afghanistan to keeping the peace in Kosovo, to diversifying and securing our energy supplies, including in the nuclear sector. We are partners in helping to advance Bulgaria’s energy independence and security and in protecting the beautiful Bulgarian environment.

When we demonstrate that technologies are safe, we pursue both goals at once, and we will stand with the Bulgarian people and government as they work to be able to provide affordable energy that meets your needs. I will be sending my special envoy for Eurasian Energy, Ambassador Richard Morningstar, to Bulgaria this week to have expert conversations about how we can be more helpful in protecting your environment and advancing your energy security goals.

Our excellent cooperation has helped to deter, detect, and stop trafficking in nuclear and other radioactive materials. Our joint counter-narcotic investigations have seized over $3 million in illegal assets. Our law enforcement partnership has led to the arrest of actors conducting international fraud schemes. I want to commend the law enforcement – (inaudible) as well as the government itself – for being a very effective leader in these kinds of efforts, addressing critical problems that affects not just Bulgaria and the region but indeed the world.

Bulgaria’s experience transitioning from communism to democracy, setting up effective institutions and persevering over the last 20 years provides many useful lessons. All one has to do is look at statistics – the lowest unemployment rates, lowest taxation rates, increasing international investment, including American investment. The social and economic development of the country stands as a great model not only within Europe but increasingly abroad to countries attempting to make the transition from authoritarianism and dictatorial rule to democracy and rule by the people.

Bulgaria has taken several steps in the last few years to combat corruption, pursue judicial reform, and uphold the rule of law for all citizens. These are very important steps for any democracy, and it will help Bulgaria continue to strengthen your democratic institutions. The Sofia Platform, which will meet for the third time later this year, is an excellent vehicle for sharing the lessons that you have learned throughout Central Europe and the Middle East. And we thank Bulgaria, thank you, Prime Minister, for your leadership in this area.

Bulgaria has just recently joined the Open Government Partnership that was started by President Obama and is co-chaired with the Brazilians. We will look forward to working with Bulgaria as you implement your action plan to improve government transparency and accountability and also pursue the potential use of e-government, which we are finding around the world is a great tool for bringing government closer to the people. And I think the president told me earlier that 2.2 million Bulgarians are on Facebook, so the technology is already present and putting it to use on behalf of better governance will be one of the issues we discuss when the Open Government Partnership meets in Brasilia later this spring.

I will be also meeting with a group of young Roma leaders and activists, and I applaud the Government of Bulgaria for the important Roma integration strategy, an important step toward full integration of your Roma people.

The relationship between our two countries is broad and deep. Now, President Obama and I are committed to working with the prime minister, the president, the Government of Bulgaria, and the people in making it even stronger and deeper in the years ahead. So it’s a great pleasure to be here, to see for myself even with this short visit the extraordinary progress that you are making. We will continue to stand with you as you move on the path of democracy to consolidate the gains that brought so many benefits to Bulgaria, and we will face together the challenges and opportunities of the 21^st century.

Thank you, Prime Minister.

PRIME MINISTER BORISSOV: (In Bulgarian.)

QUESTION: (In Bulgarian.)

SECRETARY CLINTON: Well, first let me say how committed the United States is to Bulgaria’s security. We are NATO allies. We take very seriously our Article 5 obligation for collective defense. Bulgaria has been an important, productive partner of NATO, and I did tell the prime minister that Bulgarian troops serving in Afghanistan have a well-deserved reputation for professionalism and bravery. I want to extend condolences for the loss of life and casualties that the Bulgarian troops have suffered.

With respect to security cooperation going forward, we want to make sure that we consult closely with our Bulgarian friends about how the United States and Bulgaria bilaterally and through NATO will make sure that Europe has the best defense in terms of missile defense and other capabilities in order to protect Bulgaria and all of our European allies.

I think that there will be a number of joint military exercises between the United States and Bulgaria this year. We are looking to expand our military cooperation and to do a thorough review about where it stands today and where it needs to be going in the future. I cannot prejudge that review, but the overriding issue for us is that Bulgaria has proven to be a very capable partner for whom we have the greatest respect and to whom we owe our NATO responsibility of providing defense. And we are absolutely committed to (inaudible).

I think we’ve got an American question from Lachlan Carmichael.

QUESTION: (Inaudible.) First, now that the Russians have vetoed the resolution on Syria, what’s the next step? The Syrians are calling for a coalition of support. What do you say to that? And then, of course, on Bulgaria, why is it so important that a country like Bulgaria be economically and politically independent from Russia?

SECRETARY CLINTON: Well, do you want me to go first, Prime Minister? Let me start with Syria. Let me begin by saying that Bulgaria, as you just heard the prime minister express, has been very supportive of the aspirations and rights of the Syrian people, and we are grateful for that.

What happened yesterday at the United Nations was a travesty. Those countries that refuse to support the Arab League plan bear full responsibly for protecting the brutal regime in Damascus. And it is tragic that after all the work that the Security Council did, they had a 13-2 vote.

The 13 of us voting in favor of the Arab League plan were primed to start a process for political engagement that will lead to a transition. We fear that the failure to do so will actually increase the chances for a brutal civil war. Many Syrians, under attack from their own government, are moving to defend themselves, which is to be expected.

So what do we do? Well, faced with a neutered Security Council, we have to redouble our efforts outside of the United Nations with those allies and partners who support the Syrian people’s right to have a better future. We have to increase diplomatic pressure on the Assad regime and work to convince those people around President Assad that he must go, and that there has to be a recognition of that and a new start to try to form a government that will represent all of the people of Syria.

We will work to seek regional and national sanctions against Syria and strengthen the ones we have. They will be implemented to the fullest to dry up the sources of funding and the arms shipments that are keeping the regime’s war machine going. We will work to expose those who are still are funding the regime and sending them weapons that are used against defenseless Syrians, including women and children. And we will work with the friends of a democratic Syria around the world to support the opposition’s peaceful political plans for change. We will work to provide what humanitarian relief we are able to do so.

And over the coming days, I will be consulting closely with our allies and partners in Europe, in the Arab League, and around the world. Because remember, in those 13 votes you had not only Europeans, but you have Arabs, Africans, Latin Americans, South Asians. This was a unified international community seeking an end to the violence. So we will consult – be consulting with the foreign minister here and others – about what we can do to rescue this deteriorating situation before it’s too late.

Do you want to say anything about Syria?

PRIME MINISTER BORISSOV: (In Bulgarian.)

SECRETARY CLINTON: Thank you.

 

Non-Governmental Organizations (NGOs) in the United States

The United States firmly believes that a robust civil society is necessary for democracy to thrive. From the earliest days of U.S. history, civil society organizations have played a key role in protecting human rights, human dignity, and human progress. As Secretary Clinton has said, “civil society not only helped create our nation, it helped sustain and power our nation into the future.

Civil society in the United States encompasses a broad range of organizations that allow individuals to achieve their social, economic, and political aspirations through organizing themselves unhindered, according to their own interests, needs, and priorities. We are committed to the idea that the public interest is served best when private citizens and members of civil society are able to choose the aims, organizations, and causes they support.

Accordingly, U.S. regulations that impact civil society organizations are designed to facilitate and support — not to discourage — the formation of non-governmental organizations (NGOs). U.S. regulations are designed specifically to avoid making judgments about the value or work of any given NGO. U.S. and international NGOs represent virtually every conceivable ideology, political cause, religion, social issue, and interest group. Some are deeply engaged in the political process; others are nonpartisan, operate far from the political process, and are involved only in social issues.

The following overview explains how NGOs operate in the United States, and how they are regulated.

What is Civil Society?

Civil society includes many forms of social organizations formed voluntarily by citizens to advance shared goals or interests. This includes independent public policy research organizations, advocacy organizations, organizations that defend human rights and promote democracy, humanitarian organizations, private foundations and funds, charitable trusts, societies, associations and non-profit corporations. It does not include political parties.

Areas of Activity for NGOs in the United States

Approximately 1.5 million NGOs operate in the United States. These NGOs undertake a wide array of activities, including political advocacy on issues such as foreign policy, elections, the environment, healthcare, women’s rights, economic development, and many other issues. Many NGOs in the United States also operate in fields that are not related to politics. These include volunteer organizations rooted in shared religious faith, labor unions, groups that help vulnerable people such as the poor or mentally ill, and groups that seek to empower youth or marginalized populations. Indeed, NGOs exist to represent virtually every cause imaginable. Their sources of finance include donations from private individuals (American or foreign), private sector for-profit companies, philanthropic foundations, or grants from federal, state, or local government. Sources of finance may also include foreign governments. There is no prohibition in U.S. law on foreign funding of NGOs, whether that foreign funding comes from governments or non-government sources.

Legal Framework for NGOs in the United States

 

Starting an NGO

In general, any group of individuals may come together to form an informal organization in order to jointly discuss ideas or common interests, and they can do so without any government involvement or approval. If a group seeks particular legal benefits, such as exemption from federal and state taxation, it may choose to formally incorporate and register as an NGO under the laws of any of the 50 U.S. states. Individuals do not need to be U.S. citizens to create a new NGO.

Note: Not all NGOs in the United States are incorporated. It is remarkably easy to form a charitable entity in the United States. A person can create a charitable trust simply by executing and delivering a deed, contract, or other instrument conveying the trust property to another person (or even to herself) in trust for the charitable purpose. No government approval is required to form the trust beyond the standard requirements for signing a contract or deed conveying property, however many U.S. states require all NGOs formed for religious, educational or other charitable purposes to register with a state charity official, particularly if it will be soliciting funds from the public.

Registration requirements, and forms of organization, vary from state to state, but are generally very simple, so that anyone can incorporate an NGO in just a few days at the state level. The process typically involves providing a short description of the organization, its mission, name, the address of an agent within the state, and paying a modest fee. Most states have a general incorporation statute that makes this process a routine matter, not subject to approval by the legislature or any other government official. This approach removes the risk that a government official might abuse his or her power in determining which organizations should be allowed to exist or not. In several states, certain NGOs formed for religious, educational and other charitable purposes must also register with a state charity official charged with protecting charitable assets and regulating the charitable solicitation of funds from the public.

Tax-exempt Status

Many NGOs in the United States are qualified as exempt from state and federal taxes. This legal status makes it easier for NGOs to operate as nonprofit organizations because they do not have to pay tax on the income (funding) they receive. If an NGO wants to receive exemption from income taxation from the U.S. Federal Government, the NGO applies to the Internal Revenue Service. There are many types of NGOs listed in the Internal Revenue Code that are eligible for tax-exempt status, and the type of benefits available depends on the type of NGO and the type of activities conducted. In general, NGOs organized exclusively for educational, religious, charitable, scientific, testing for public safety, literary purposes, and certain sports, that are non-profit and do not play a partisan political role (e.g., by supporting candidates for election or attempting to influence legislation), can apply to receive exemption from federal income taxation on all income related to these purposes.

NGOs organized for political purposes receive limited tax exemption only for income received from contributions solicited from the general public, membership dues, or fundraising events. State governments often use the same standards for applying state income tax laws. Organizations seeking exemption from state taxes generally must file applications for exemption with the state tax authorities.

Another feature of tax-exempt status is that contributions to some of these organizations may be tax deductible for the donor. This provides an important incentive for citizens and corporations to donate funds to these groups.

It is important to note that the federal and state governments do not judge the value of an organization’s specific activity or mission in determining that these organizations are eligible for tax-exempt status. The U.S. government generally does not seek to influence an organization’s mission, determine how an NGO is structured, approve who runs it or serves on its board, or direct its financial management. Instead, U.S. law generally regulates organizations by requiring regular public disclosure – through filing of information returns with the government – of an organization’s funding, activities, and leadership. The regulations do not allow government officials to revoke permission to operate or tax-exempt status based on judgments about the merits of an organization’s mission, activities, budget, or leadership.

 

Freedom of Expression and Association in the United States

There is generally very little restriction on the freedoms of expression and association of NGOs under U.S. law. Although NGOs engaged in political activities may not qualify for the most preferential tax-exempt status, the U.S. government thus does not prevent NGOs from undertaking advocacy for political issues or criticizing the government. The U.S. constitution provides for robust protections for freedom of expression, and leaves open space for debate that is necessary in democratic societies, including protecting ideas that offend, shock, or disturb.

The United States has many laws and regulations on issues including immigration and visas, campaign finance and lobbying, terrorism financing, and money-laundering that may affect NGOs. However, these laws are applicable to everyone and to all organizations, not exclusively NGOs.

Note: Certain NGOs — charitable 501(c)(3) organizations in particular — may be subject to some operating restrictions, including IRS rules prohibiting self-dealing (transactions with organization insiders) and excessive compensation, limiting lobbying and political activities, requiring minimum distributions for activities, and restricting certain kinds of commercial or investment activities. In addition, state laws may impose governance restrictions, such as a minimum number governing body members or limits on the number of governing body members that may be compensated.

Foreign NGOs in the United States

The United States hosts many foreign NGOs that do important and valuable work in our country. Foreign NGOs can register in the U.S. by filing a simple form as a non-profit entity. Some operate as non-partisan foundations, while others are affiliated with foreign political parties and operate as think tanks and liaisons to U.S. organizations concerned with foreign policy. These foundations organize programs for their respective politicians when they come to the United States, and organize conferences, youth exchanges, and fellowships/scholarships. They also provide funding to and conduct joint projects with American NGOs. Funded entirely by foreign governments, these foreign party institutes do not have special restrictions on their activities in the United States, can conduct meetings and publish materials freely, and are not required to provide reports to other U.S. federal government agencies, provided they register and file tax returns according to the requirements described below.

As Secretary Clinton said in Krakow in July 2010, “We welcome [foreign] organizations in the belief that they make our nation stronger and deepen relationships between America and the rest of the world. And it is in that same spirit that the United States provides funding to foreign civil society organizations that are engaged in important work in their own countries. And we will continue this practice, and we would like to do more of it in partnership with other democracies.”

Regulation of Foreign Funding of NGOs and Foreign NGOs

 

Foreign Funding of U.S. NGOs

As Secretary Clinton has said, “in the United States, as in many other democracies, it is legal and acceptable for private organizations to raise money abroad and receive grants from foreign governments, so long as the activities do not involve specifically banned sources, such as terrorist groups.” As a general matter, U.S. law imposes no limits or restrictions on the receipt of foreign funding by NGOs operating in the United States. Of course, laws that are generally applicable to all Americans may apply to NGOs, such as restrictions on receiving contributions from a terrorist organization. There are also restrictions on direct financial support of political candidates by foreign individuals.

Foreign NGOs Operating in the United States

Before foreign organizations are able to conduct activities in any particular U.S. state, they must apply for a license to conduct business in that state. This process is similar to the incorporation process for U.S. NGOs described above. Like domestic NGOs, foreign organizations can apply to the Internal Revenue Service for recognition as charitable or social welfare organizations under the Internal Revenue Code. Although such organizations are exempt from paying taxes on their income, contributions to foreign organizations are not tax-deductible (in the absence of a special treaty providing otherwise with the country of the NGO’s origin).

 

The Foreign Agents Registration Act (FARA)

This act requires any person or organization (U.S. or foreign) that is an “agent of a foreign principal” to register with the Justice Department and to disclose the foreign principal for which the agent works. Foreign principals can include governments, political parties, a person or organization outside the United States (except U.S. citizens), and any entity organized under the laws of a foreign country or having its principal place of business in a foreign country. FARA requires people acting as agents of foreign principals under certain circumstances to make periodic public disclosure of their relationship with the foreign principal, as well as activities, receipts, and disbursements in support of those activities.

Some governments have misinterpreted FARA as restricting the ability of civil society to register and operate. On the contrary, FARA does not impose a tax, nor does it set a cap on foreign funding that an organization can receive. FARA covers all “persons,” including individuals, corporations, and associations. FARA also includes a number of exceptions, including for persons whose activities are in “furtherance of bona fide religious, scholastic, academic, or scientific pursuits or of the fine arts.” FARA also exempts from registration other NGO activities, such as certain solicitations of funds for medical aid, or for “food and clothing to relieve human suffering.”

NGO Relations on the Local and International Levels

Once an NGO has registered according to the requirements summarized earlier, the U.S. government does not interfere with how the NGO accomplishes its purposes. NGOs are free to recruit participants for their organizations as they wish, and need not provide notification to any government agency about its membership, activities, or outreach. Like other U.S. organizations and companies, U.S. NGOs must refrain from working with governments or individuals under U.S. sanctions, as well as with groups designated as foreign terrorist organizations, but otherwise, they are free to collaborate with foreign NGOs or foreign governments to achieve their purposes. There are no regulations that restrict U.S. NGOs from attending conferences abroad, finding donors overseas, or performing work internationally.

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As the United States engages with the countries of Central Asia, encouraging greater regional economic integration, it is not facing a choice between advancing its security relationships and promoting issues like human rights, says the top U.S. diplomat to the region.

Speaking January 25 at the forum of the Central Asia-Caucasus Institute at the Johns Hopkins School of Advanced International Studies in Washington, Assistant Secretary of State for South and Central Asian Affairs Robert Blake acknowledged that the Obama administration is balancing competing priorities in the region, such as combating drug trafficking and terrorism while also promoting economic integration, human rights and good governance.

“We do not see our engagement with Central Asia as an either-or choice between developing security relationships at the expense of core values like human rights. Progress on one issue can help reinforce, or create incentives for, progress on other issues,” Blake said in his prepared remarks.

The U.S. effort to strengthen its relationships with Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan “should not impinge upon our strong support for democratic development and universally recognized human rights,” he said.

In all five nations, the Obama administration’s engagement is consistently focused on “political liberalization, good governance, civil society capacity building and addressing human rights concerns,” as well as other interests such as nuclear nonproliferation, energy, economic development and educational exchanges, he said.

He added that U.S. officials are engaging not only with the governments in the region, but also with civil society groups and the people themselves through such avenues as the annual bilateral consultation process.

“These consultations are a face-to-face, structured dialogue based on a jointly developed agenda that promotes candid discussions on the full spectrum of bilateral issues, including human rights, religious freedom, science and technology collaboration, economic development, defense cooperation and other subjects either side would like to discuss,” Blake said.

The Obama administration sees its vision for transition in Afghanistan in 2014, when Afghans will assume full security responsibility for their country, as a working strategy that can be expanded for the broader region, he said. Blake said Central Asian support for Afghanistan’s economic and political development is very much in those countries’ own interests.

“A peaceful, stable, prosperous and democratic future for the Central Asian states is directly linked to the prospects for peace, stability, prosperity and democracy in Afghanistan,” he said.

The United States is promoting greater economic integration in the region and strongly supports the New Silk Road project, a long-term economic vision to transform Afghanistan into a hub of transport and trade, connecting markets in India, Pakistan, Afghanistan and Central Asia.

“Our hope is to encourage all of the countries of the region and beyond to help build a network of roads, bridges, pipelines and rail lines to facilitate the goal of embedding Afghanistan more firmly into its neighborhood and helping Afghanistan realize its goal of creating an economy based more on trade than aid,” Blake said.

“If Afghanistan is firmly integrated into the economic life of the region, it will be better able to attract private investment, continue to develop and benefit from its vast mineral resources and provide increasing economic opportunity for its people, men and women alike,” he said.

Along with the regional benefits from a stable, secure and prosperous Afghanistan, Blake said, Central Asia’s significant energy resources also offer “a motivating factor for regional economic development and integration.”

However, he said, intraregional trade has been “lagging” due to the need for Central Asian countries to overcome bilateral obstacles such as border crossings and tariffs, as well as internal problems like corruption, contradictory foreign investment rules and “a less-than-transparent and unpredictable regulatory environment.”

Blake said the Asian Development Bank-led Central Asia Regional Economic Cooperation program (CAREC) offers an important regional coordination mechanism. The program “envisions a transformation of the region through transport corridors and energy infrastructure in order to sustain economic growth,” he said.

“We hope the Central Asian states will continue to work independently, through CAREC, through other institutional arrangements and with partners like the United States to reduce the barriers to trade and transportation so that greater regional economic integration will become a reality,” Blake said.

THE WHITE HOUSE
Office of the Press Secretary
January 27, 2012

Statement by the President on International Holocaust Remembrance Day

This International Holocaust Remembrance Day, Michelle and I join people in the United States, in Israel, and across the globe as we remember the six million Jews and millions of others who were murdered at the hands of the Nazis.

We commit ourselves to keeping their memories alive not only in our thoughts, but through our actions. As we remember all those who perished in camps from Auschwitz to Treblinka, Dachau to Sobibor, we pledge to speak truth to those who deny the Holocaust.

As we celebrate the strength and resilience of survivors, we pledge to stand strong against all those who would commit atrocities, against the resurgence of anti-Semitism, and against hatred in all its forms.

As we draw inspiration from the righteous gentiles who risked their lives to save friends, neighbors, and even strangers, we pledge to continue the hard work of repairing the world.

Together with the State of Israel, and all our friends around the world, we dedicate ourselves to giving meaning to those powerful words: “Never Forget. Never Again.”

Côte d’Ivoire’s President Alassane Ouattara escorts Secretary of State Hillary Rodham Clinton as she arrives at the presidential palace in Abidjan January 17.

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By Stephen Kaufman,
IIP Staff Writer
Washington
18 January 2012
A successful Egyptian transformation to democracy will require not only political reform, but also increased economic opportunities for the Egyptian people, and the Obama administration wants to encourage private enterprise through partnerships with American companies.

The United States also wants to complement private sector initiatives by supporting infrastructure development and mobilizing other resources to spur economic growth.

“Egypt’s mix of geography, population and resources makes it a natural hub for regional trade and commerce,” Deputy U.S. Trade Representative Miriam Sapiro said January 17. “According to at least one study, if Egypt strengthens its economic institutions now, and embraces economic modernization, it could be one of the top 10 world economies within a generation.”

Speaking to an audience that included Egyptian entrepreneurs at the U.S.-Egypt Business Council in Washington January 17, Sapiro said the United States “stands ready to do all it can to help Egypt develop its private sector” by encouraging U.S. companies to fully participate in Egypt’s economic growth and by supporting the foundation for a partnership between the two countries “that will remain strong and durable for years to come.”

She said that ultimately Egypt’s economic growth will be led by the private sector’s ability to spur new demand for Egyptian products and services both within and outside the country.

“Increased foreign trade and investment play a key role in stimulating growth,” Sapiro said, and experience has shown that “economic growth is far likelier to be stimulated quickly and substantially through a country’s open trade and investment policies than through assistance.”

She encouraged Egyptians to look to examples such as Brazil, India and Turkey, which have deliberately integrated their economies into the global marketplace and, as a result, have strengthened their economic competitiveness and their prospects for sustained growth.

Direct trade and investment from the U.S. government will be based on a two-part approach, with a short-term strategy to deliver quick and concrete results, and a longer-term plan that would position Egypt and other countries in the Middle East and North Africa “in a fundamentally different position vis-à-vis the global economy,” Sapiro said.

The 2011 Group of Eight Summit saw the launch of the Deauville Partnership, which is an economic framework to support Middle Eastern and North African countries in achieving transparent and accountable governments as well as sustainable and inclusive growth. Sapiro said the United States is committed to the best use of that partnership for Egypt, and is ready to cooperate on expanding trade, services and investments, agriculture and good regulatory practices. The United States also wants to encourage regional trade and investment arrangements to create more export opportunities for Egyptian goods and services, she said.

“We would like to see Egyptian companies take greater advantage of existing programs that would benefit Egyptian exports to U.S. markets, such as the Globalized System of Preferences (GSP). These programs allow certain types of Egyptian goods to enter the U.S. duty-free, making it cheaper to ‘Buy Egyptian,’” she said. Based on data from 2010, Sapiro said, some Egyptian exports to the United States, such as car parts, fruit juices and carpets, had entered the U.S. market without taking advantage of their duty-free eligibility.

“Our goal is to promote trade, investment and innovation to help create jobs, and assist Egyptian businesses increase and diversify their activities as the surest path to increased prosperity throughout Egypt,” Sapiro said. “But it will be companies and entrepreneurs like all of you, from Egypt, countries throughout the region and the world, who will play the largest role in the ongoing transformation of the Egyptian economy.”