The Egyptian Exchange (EGX) launched on Monday the third edition of its “Stock Exchange for Development” conference, in Qena and Luxor governorates, under the patronage of Prime Minister Mostafa Madbouly.
The conference comes within the framework of the Egyptian Exchange’s keenness to support the efforts of the Egyptian state to achieve the objectives of economic and social development plans by contributing to the settlement of comprehensive development by supporting many companies operating in Egypt’s governorates in various economic sectors and activities, by assisting these companies, especially small and medium ones, in accessing finance through organized public markets, which are capital markets known in the media as stock exchanges.
The two-day conference in the governorates of Qena and Luxor includes several sessions and workshops with the financial, business, trade, and investment community in the area, as well as university students, to serve as a platform for dialogue and communication with business and financial gatherings in different governorates, especially small and medium ones, to introduce them to the advantages and procedures of registration, offering and trading, and how they can benefit from the capital market to access the financing necessary for growth and expansion and achieving their goals, as well as spreading the culture of savings and investment.
During the conference, Mohamed Farid, Chairperson of the Egyptian Exchange, reviewed the components of the bold comprehensive economic reform programme, which included financial, monetary, and structural reforms, at the heart of which is the implementation of a package of social policies to support the less fortunate and most affected by reform, the most important of which is the Takaful and Karama programme.
Farid added that the financial markets play a major role not only in assisting the various economic entities in accessing the necessary financing for expansion, growth and launch, and then providing jobs that contribute to improving people’s living conditions, but also as an important platform for trading and investment, and ease of entry and exit.
Farid stressed that the EGX’s management worked to take all necessary measures and decisions that contribute to enhancing liquidity and stimulating trading, by launching a wide media campaign to raise awareness and knowledge levels and spread financial culture, as well as developing and launching many financial products and mechanisms, including the mechanism for selling borrowed securities as well as the market maker, as well as simplifying many of the procedures necessary for investment and trading along with spreading the financial culture in order to increase the number of coders.
Farid mentioned that the Conference came to enhance the role of the stock market in supporting economic entities operating in various governorates and helping them access financing, to achieve their goals of growth and increase their business, through the stock market.
Farid also said that the conference aims to support the Egyptian government’s efforts in distributing the fruits of growth by investing individuals in the shares of listed and traded companies that contribute to economic growth rates.
Ashraf Al-Daoudi, Governor of Qena, said that choosing Qena to host the third edition of the Conference reflects the government’s efforts to achieve sustainable development in Upper Egypt, stressing that the governorate is keen to provide full support to the efforts of the Egyptian Exchange.
He explained that this conference is an important opportunity for businessmen and investment companies to increase their business and achieve their goals in a way that serves to increase employment and investment rates, and it also represents a new beginning that helps small companies diversify their sources of financing and achieve their goals.