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The 3rd edition of The Egyptian Exchange’s (EGX) promotional conference “EGX for Development” was conducted in Qena today. It will be followed by a day in Luxor tomorrow. The event is under the auspices of the Egyptian Prime Minister Dr. Mustafa Madbouli, in cooperation with the leaders and officials of the provinces of Qena and Luxor.The conference comes within EGX’s keenness to support Egyptian businesses to achieve their objectives of economic and social development, by supporting these companies, especially small and medium-sized ones, to reach financing through the Egyptian capital market.
The conference was attended by businessmen, representatives of the trade community and university students. The sessions discussed the advantages of listing, offering and trading at EGX and the benefits of capital market financing for the development and growth of promising businesses.
The event was attended by Major General Ashraf Daoudi, Governor of Qena, Dr. Mohammed Farid, Executive Chairman of EGX, Ahmed Al Sheikh, Vice Chairman of EGX, brokerage firms, investment fund managers, banks representatives,
During the first session, Dr. Mohamed Farid, reviewed the comprehensive economic reform program of the government, which included financial, monetary and structural reform, and the implementation of a social policy package to support the less fortunate and most affected groups of reform, stressing that these reforms contributed to achieving several objectives, including the stability of macroeconomic indicators. He added that financial markets play a major role not only in helping different economic entities access the financing needed for expansion, growth and start-up, but also an important platform for trading in EGX.
He added that EGX’s management is taking all necessary measures and decisions to contribute to the promotion of liquidity and stimulate trading. EGX launched a broad marketing campaign to raise awareness and spread the financial literacy. New products and mechanisms were activated in the Egyptian Market to stimulate investment and trading.
Dr. Farid stated that this conference aims to strengthen the role of the Egyptian capital market in supporting growing businesses and helping them to reach finance, to achieve their targets in growth, launch and increase the size of their business.
Major General Ashraf Al Daoudi, Governor of Qena, said that the choosing Qena for the 3rd round of the conference reflects the importance of Upper Egypt cities for the sustainable development of Egyptian economy. He stressed that Qena will provide full support to EGX’s efforts to maximize the benefits and gains for its citizens and the national economy as well as the financial and business community in the province, which contributes to improving the conditions of the people through employment.
The event witnessed discussions with growing SMEs attending the meeting responding to their various inquiries about the requirements of listing, offering and trading.
