Egyptian stock Exchange (EGX) is able to provide the financing needed for the country’s major economic development projects, said financial firm Pioneers Holding chief executive.
Pioneers’ CEO Waleed Zaki highlighted the regulations upgrade carried out in the EGX since mid-2013.
The investment certificates are not the only financing instrument, the top official noted, referring to several other instruments, such as bonds and shares, which may be resorted to when required.
Zaki further forecasted that the country’s stock market will play a key role in financing the Suez Canal development project, in addition to other national projects.
Investors are upbeat about the positive moves and reform procedures carried out recently, such as the reduction in fuel subsidies, in addition to other structural decisions, Zaki added.