- Joint media release between South Sinai Governorate and The Egyptian Exchange
- South Sinai Governor: Spreading financial literacy enhances safe investment environment in the area
- Radwan: Cooperation with South Sinai Governorate is a strategic step to expand across the governorates
The Egyptian Exchange held a large meeting with leaders of South Sinai Governorate via video conference within the efforts of enhancing comprehensive economic development and attracting investments to Sinai Peninsula. They discussed the final arrangements of singing mutual cooperation protocol and organizing a major investment and awareness event in Sharm El-Sheikh.
Major General Dr. Ismail Kamal, South Sinai Governor, and Dr. Enas Samir, Deputy Governor of South Sinai attended the meeting with Mr. Omar Radwan, Executive Chairman of the Egyptian Exchange, and Mr. Mohamed Sabry, Vice Chairman of the Egyptian Exchange, along with several leaders from the Egyptian Exchange, and experts from the financial market.
The meeting discussed planning for promoting investment opportunities and spreading financial awareness, where the two parties agreed on organizing a large event for three days in Sharm El-Sheikh by the start of the tourist season beginning of upcoming September. The event aims at promoting EGX, trading mechanisms, safe investment and focusing on introducing the available opportunities to investors and citizens.
From his side, Major General Dr. Ismail Kamal, South Sinai Governor, expressed welcoming this fruitful cooperation with EGX, confirming that this is a model to be followed for cooperation between governorates and financial institutions. He pointed out that Sharm El-Sheikh city owns all the unique features of being an outstanding destination for investment and living. He added that spreading financial literacy enhances safe investment environment in the area.
In the same context, Omar Radwan emphasized that the Egyptian Exchange works to make its investment tools available for all citizens and investors with their different segments. He pointed out that EGX index includes the largest Egyptian companies with high liquidity, and that cooperation with South Sinai Governorate and King Salman University is a strategic step towards expanding across governorates.
As per the cooperation protocol between South Sinai Governorate and EGX, the event will include awareness programs specifically for hotels sector, tourist chamber, and diving and marine activities chamber. This aims at highlighting trusted companies and financial institutions licensed by the Financial Regulatory Authority (FRA), contributing to protect investors in response to the requirements of the business community in South Sinai.
The agreement also includes launching a training and awareness program, in collaboration with King Salman International University, targeting students and youth in Sinai, focusing on concepts of saving, investing, trading and mechanisms of stock market, contributing to prepare young calibers with high financial awareness.
During the meeting, the large companies in Sinai Peninsula were also invited to be listed and traded in EGX, in collaboration with Sinai Peninsula Development Authority and relevant entities. In addition to encouraging investors and foreign residents in Sharm El-Sheikh to direct their investments and savings to investment funds and listed stocks.
