EGX seeks to strengthen investment cooperation with Kuwait

Fatma Salah
2 Min Read

The Egyptian Exchange (EGX) announced on Tuesday that its strategy is based on diversifying investment options to suit all types of investors, adding that it seeks to create investment opportunities for foreigners in general and Kuwaitis in specific.

In a speech during the activities of the Egyptian-Kuwaiti Economic Forum, Ramy El-Dokany — Chairperson of the Board of Directors of the EGX — said that the coming period will witness the resumption of efforts and promotional campaigns and the provision of all means of success for the government’s proposed plan for the coming period.

He added that the management of the EGX seeks to strengthen the bonds of investment cooperation between Egypt and Kuwait by working to provide an attractive environment for non-Egyptian investors, noting that the transactions of Kuwaiti investors ranked fourth in the Arab world and 12th globally in 2021 with a value of EGP 3.7bn.

As of September 2022, it ranked fourth in the Arab world and 13th globally with a value of EGP 2.1bn.

El-Dokany indicated that the timing of the visit comes in light of the Egyptian state’s endeavour to complete the radical reform plan that included most of the constituent sectors of the Egyptian economy, including the non-banking financial sector, which witnessed during the recent period comprehensive changes at the leadership level — whether in the Financial Regulatory Authority (FRA) or the EGX — to foster cooperation, achieve the goals of the sector, and enable it to play the role entrusted to it in the Egyptian economy, especially with regard to providing an attractive environment for Egyptian and non-Egyptian investors.

He then called on Kuwaiti investors to take advantage of the investment opportunities currently available in most economic sectors, especially after the radical reforms witnessed by the Egyptian economy since 2016 and the imminent activation of the programme to expand the ownership base of government companies.

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