Egypt Capital Market Will See New Birth by 2014 – HC’s MD

Hussein Choucri, Chairman and Managing Director of HC Securities & Investment company said the ongoing year will witness a new birth for the Egyptian Exchange (EGX) as result of the regulations and legislation which have been issued to regulate this market.

Choucri added in a keynote speech at the annual conference of “Mutual Funds’ Role in Supporting Egypt’s Economy that the economy needs creating innovative and unconventional ideas for EGX market in order to support and develop the market during the upcoming period.

The direct investment and real estate investment funds play major role in developing the state’s capital market by the next phase and ending the ongoing investment stalemate in the recent periods, Choucri explained.

He noted that launching mechanisms of real estate funds will develop the market, stressing the investment funds have human cadres and technical distinct which will contribute in raising the efficiency of investment firms.

Furthermore the foreign markets started the expansion in some various investment funds including funds in insurance companies and real estate which contributed in attaining highly return on its capital.