BNY Mellon, HSBC express optimism for Egypt’s economy at BEBA mission

The Bank of New York Mellon Corp. (BNY) praised on Friday Egypt’s new ministerial economic group for their successful collaboration in fostering a supportive environment for the private sector.

BNY emphasised the positive impact of this coordinated approach, which includes increased transparency and a focus on private sector development. These efforts have significantly enhanced Egypt’s attractiveness to foreign investors and are expected to drive economic growth.

The roundtable discussion took place at BNY Mellon’s headquarters in London on the sidelines of the door-knock mission to the UK, organised by the British Egyptian Business Association (BEBA). Notable attendees included British Ambassador to Egypt, Gareth Bayley, as well as Egypt’s Minister of Finance Ahmed Kouchouk, Minister of Investment Hassan El-Khatib, and Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA), and Rami Abu Naga, Deputy Governor of the Central Bank of Egypt (CBE).

Elsewhere, economic analysts at HSBC UK also expressed during another roundtable session their optimism about Egypt’s economic outlook, noting the substantial improvements achieved in recent times. They attributed these positive developments to the government’s successful implementation of measures to address economic challenges, which have led to stronger economic indicators and promising growth prospects.