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In a Move to Integrate the Private Sector in Development Plans, the Egyptian Exchange Concludes its First Sustainability Conference
Oct 25, 2015
The Egyptian Exchange (EGX) concluded its annual conference for sustainability with the participation of a large number of representatives of the business sector, civil society, and a number of international organizations led by the United Nations (UN) and the World Federation of Exchanges (WFE). The opening speech of conference was delivered by Mr. Ashraf Salman, Minister of Investment, Dr. Ghada Waly, Minister of Social Solidarity, Mr. Sherif Samy Chairman of the Egyptian Financial Supervisory Authority and Dr. Mohammed Omran, EGX Chairman.

The conference focused on ways to enhance the business community’ sustainability and highlighted the successful models locally and internationally in the application of sustainability criteria. H.E. Mr. Ashraf Salman, Minister of Investment explained in his speech that financing sustainable development goals need $ 4.5 trillion in the year 2030 and said that the whole world is significantly interested in sustainability plans, stressing that EGX has an important role in educating the business community about the importance of applying the sustainability standards. 

While H.E. Ms. Ghada Waly, said that sustainability issues are critical, and must be given increased attention, especially with regard to issues of gender equality and women empowerment, studies showed that women's empowerment could increase the national income by about 38%, mentioning that the insurance investments in EGX has achieved a very good return on the long-term, confirming the existence of studies to increase the investments’ volume in EGX during the coming period.

Mr. Sherif Samy, EFSA chairman, said that it’s clear that there are many trends in the coming period to support sustainability, and among modifications that were done currently is to modify the Capital Market Law, which allows the presence of not-for-profit investment funds, so that it will help to achieve institutional management for the investment development.

From his part, Dr. Mohammed Omran, EGX Chairman said that sustainability must become a way of life for companies and not just complementary aspect, the conference comes at an important time to reflect the growing interest in integrating the business sector in the development plans, it is no longer a well-being matter but it’s essential for developing the society.

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