As part of efforts to restore the confidence of foreign investors in the Egyptian market under positive economic and political developments in the country, Chairman of the Egyptian Exchange Mohamed Omran has recently met with a number of global financial institutions to inform them of the positive developments in the Egyptian economy in General and the stock market in particular.
According to the EGX’s release, Omran started his round of meeting with Bank of New York-Merrill Lynch and some of the largest financial institutions in the world. During the meeting Omran discussed with attendees marks of recovery of the Egyptian economy. After which Dr. Omran Joined “The Egyptian Capital Market Day” organized by the Bank HSBC global as a Keynote speaker. During his presentation, Omran reviewed the positive stock market performance index of the market since June 2013.
The meeting was attended by a number of the largest manager of mutual funds and portfolios in the United States In addition to a number of the largest listed companies in the stock market. He focused during the meeting on measures taken by the Government to improve the investment climate, including a Commission to resolve disputes between investors, headed by the Prime Minister.
He stressed on the commitment of the Egyptian Government to demonstrate practical and sincere support of the investors. He presented some of the national projects that started as a centre of the Suez Canal and the North Coast as well as the rehabilitation of 3 million acres and more. The Egyptian top official added that a large number of investors showed interest in mega projects and the possibility of investment and commended the courage of the Government pump this volume of investments in infrastructure for what will be its impact in stimulating the economy during the next period.
In a gesture reflecting the place occupied by GEX, NASDAQ stock market welcomed Dr. Omran with closing of the trading session celebration attended by NASDAQ leaders and representatives of international institutions such as JP Morgan, Deutsche Bank and Morgan Stanley as well as the Egyptian consul in the United States. This ceremony is a tradition of high-level personalities in the field of finance and investment.
On the sidelines of the ceremony Dr. Omran said that EGX in accordance with international indicators are best global stock market in terms of revenue, where the main index (EGX30) has risen by up to 105% since June 2013 and the highest growth rate achieved at the level of the developed markets and emerging market and developed. The contract signed with NASDAQ will ensure continued superior technological infrastructure of the Egyptian stock exchange.
Omran said for the stability policy, the Government continues to support the investment climate and which will in return have the greatest impact on the continuous improvement in the performance of the Egyptian stock exchange in the coming period.