Government to announce list of state-run firms to be offered on EGX next month: PM

Fatma Salah
2 Min Read

Prime Minister Mostafa Madbouly said in a press conference on Saturday that the government will announce a plan to offer a number of state-run companies to be offered on the Egyptian Exchange (EGX) within less than two weeks.

The Prime Minister said that those companies will be offered during this year.

Madbouly held a meeting last Thursday to follow up on the government’s plan to boost investments in the stock market, by formulating a unified vision from all parties concerned with investment affairs in Egypt.

The Prime Minister started the meeting by pointing out that the government continues to coordinate efforts to attract more investments to the Egyptian Exchange, stressing that the efforts of the current period focus on preparing a common vision with specific goals to promote investment in the stock market, with the participation of all parties concerned with investment affairs in Egypt.

Nader Saad, the Cabinet Spokesperson, said that the meeting touched on the need to build on the positive results achieved by the Egyptian Exchange during the last period, stressing that this is what all government agencies concerned with the investment file, working in coordination with the Central Bank, in order to achieve the goals of increasing trading values and entering new investors into the market.

Saad indicated that the meeting witnessed a review of the promotional tour plan for the Egyptian Exchange scheduled for next month, which comes as a continuation of the foreign tours program that began last October to learn about the most important investment obstacles for individuals and non-Egyptian institutions to invest in the Egyptian market, especially after the record performance of the market during the second half of last year, especially after the Egyptian government took a number of economic decisions related to liberalizing the exchange rate and announcing the agreement with the International Monetary Fund on 27 October 2022.

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