As part of the ongoing efforts to enhance competitiveness of the Egyptian capital market and attract more foreign investments, Mr. Omar Radwan, Executive Chairman of the Egyptian Exchange (EGX) held a meeting with Minister Plenipotentiary Dr. Abdel Aziz El?Sherif, Head of the Egyptian Commercial Service (ECS), at the headquarters of General Authority for Investment and Free Zones (GAFI), to discuss ways of enhancing joint cooperation to promote the Egyptian financial market internationally as well as strengthening engagement with global financial institutions and investors.
This meeting comes at the time the Egyptian Exchange is witnessing positive performance, supported by the high records of the market indicators. In addition to the recent reforms announced by the government, on top of which is the package of taxes amendments encouraging investment and reflecting continued efforts to improve the business environment and increase attractiveness of the Egyptian market to the different investors.
During the meeting, EGX Executive Chairman, Omar Radwan introduced the latest developments in the financial market, and the measures being implemented for the development and diversification of its financial instruments, which increases efficiency of market’s competitiveness and its alignment with the best global practices. The two sides also discussed ways of benefiting from the network of the Egyptian commercial representative offices abroad, introducing the promising investment opportunities in the Egyptian Exchange, as well as directly communicating with the investment funds and asset managers to attract new segments of foreign investors.
Radwan emphasized the importance of highlighting the strength of the Egyptian economy and stability of the investment environment in a clear and balanced way, enhancing trust of the international institutions and increasing financial flows towards EGX. Both sides stressed on the importance of coordinating the media and promotion messages issued by the state’s institutions to highlight the positive progress and structural reforms implemented by Egypt to enhance its position as an attractive regional investment destination.
Both sides agreed on preparing an action plan covering: organizing promotional tours, direct meetings with the targeted markets, holding virtual seminars with international financial institutions, as well as data and information exchange, and utilizing the international business network of commercial service to support goals of economic development and strategy of deepening the financial market.
This meeting reflects that EGX is committed to collaboration with all institutions, implementing the national strategy aiming to increase foreign investments and enhance role of the capital market as a leading platform to support the economic growth in the region.
