We are keen on permanent coordination with the EGX to achieve financial, investment inclusion: Egypt’s PM

Daily News Egypt
3 Min Read

We aim to increase the number of listed companies and investors to advance the Egyptian capital market, increase its competitiveness, and expand the provision of financing to various economic sectors: Chairperson of EGX

Prime Minister Mostafa Madbouly met with Mohamed Farid — the Chairperson of the Board of Directors of the Egyptian Stock Exchange (EGX) — to review the proposed action plan to achieve the goals of digitisation and help citizens benefit from investing in the stock market.

This aims to attract foreign investments and provide the necessary financing to achieve the sustainable development goals in Egypt’s 2030 Vision.

The PM stressed that this meeting comes within the framework of the government’s keenness to coordinate permanently with the EGX and adopt and support ambitious plans aiming to achieve financial and investment inclusion and facilitate services through digital transformation to increase the Egyptian market’s ability to attract investments.

For his part, Farid presented several indicators related to the work of the EGX over the past few months, which included developing the value of the offerings as a result of the resumption of the government offering programme in addition to increasing the number of investors in the market following efforts to spread a culture of investment and savings and promote the stock exchange in order to serve the listed companies and the Egyptian economy as a whole, as well as develop the value of institutional investment in the EGX.

Farid also reviewed the most prominent features of the proposed action plan and the necessary operational steps to implement it in cooperation with the relevant ministries and authorities.

He stressed that the plan targets a number of mechanisms that increase the number of listed companies and investors to advance the Egyptian capital market as well as increase its competitiveness and ability to provide financing for various economic sectors, in addition to increasing governmental investment in the stock market, along with developing government proposals as a key element in increasing the number of investors in the market and attracting foreign capital.

Share This Article