EGX takes promotional campaign to New York

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CAIRO: A delegation from the Egyptian Stock Exchange (EGX), headed by Chairman Mohamed Abdel Salam, began a promotional campaign in New York City.

Abdel Salam met with representatives of US financial institutions to discuss the Egyptian economy, “characterized by its large pool of highly liquid companies and its oldest stock exchanges in the Arab region,” according to a statement.

The campaign is organized by EGX in cooperation with Deutsche Bank as part of a series of visits to regional and international investment banks to provide data proving the attractiveness of investing in Egypt.

Officials argue that investor confidence should be heightened after the January 25 Revolution as Egypt strives to battle financial and administrative corruption.

Workshops were held between representatives of major listed Egyptian companies, investors and representatives of US financial institutions.

An Egyptian Capital Markets Day was celebrated in New York, where Abdel Salam rang the closing of bell of Nasdaq in the presence of the Egypt’s General Consul of New York, Yousef Zadeh, as well as Sandy Frucher, vice president of Nasdaq OMX.

Frucher said “Egypt is the second biggest economy in Africa and mentioned its unique geographical presence and the power of its people,” the statement read.

The delegation is scheduled to travel to the United Kingdom on Tuesday.

The Egyptian delegation.


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