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Source: Thomson Reuters.   Last updated on Apr 21, 2019 at 23:11PM (UTC).   Delayed by at least 15 minutes.
The Egyptian Exchange Chairman Lectures Representatives of 35 Foreign Embassies in Egypt to Promote EGX Internationally
Jan 17, 2019
Mr. Mohamed Farid, EGX Chairman presented a lecture on Thursday to representatives of 35 embassies to promote for the Egyptian capital market abroad and to review the latest developments in the economy, especially the stock exchange.

The audience represented many countries that EGX targets such as Spain, America, Japan, South Korea, Singapore, Italy, Malaysia, India, Denmark and Argentina.

This meeting is the continuation of EGX management efforts to raise the knowledge level and financial literacy, the fundamentals of investment on EGX and take advantage of the capabilities of foreign embassies representatives in promoting the Egyptian financial market abroad.

During the lecture, Mr. Farid reviewed the comprehensive economic reform program at all fronts, monetary, financial and legislative, starting from the currency floating and the restructure of fuel subsidies, regulating the energy market and allowing the pricing of petroleum products. He confirmed that these reforms redirected the economic developments to the right path and returned to the macroeconomic indicators to stable.

Assistant Foreign Minister for Economic Affairs, Amr Abu Aish said that the meeting is part of the Egyptian Foreign Ministry's interest to strengthen the communication channels between Egyptian officials and representatives of the foreign embassies to familiarize them with all developments, especially the reforms and developments EGX witnessed.

Abu Aish continued that EGX is considered one of the most important tools to attract foreign investments to the Egyptian economy through various sectors and activities. This contributes to the creation of job opportunities and improves the Egyptians’ living conditions.

EGX agreed with the Foreign Ministry to give lectures to the future ambassadors to familiarize them with the role of financial markets in attracting domestic and foreign investments to enhance economic growth.

EGX Chairman continued that the capital markets are not only a platform for trading and investment, but they are also an important lever for financing companies operating in various economic activities; thus, financing economic growth.

Mr. Farid pointed that the Egyptian government's devotion to realize the reforms enhances the confidence in the business communities and paves the way for investment inflows.
Mr. Farid called on the future ambassadors to provide all kinds of support and promotion for investment at EGX, especially with the launch government IPO program.

"We are always work on diversifying investment options for all investors categories by enabling and leveraging more instruments and financial products to enhance trading and liquidity," said Mr. Farid.

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