Mohamed Farid, Chairperson of the Egyptian Exchange (EGX), has discussed the role of the stock market in supporting the economic and social development plans adopted by the Egyptian government to improve the quality of life of Egyptians.
During a meeting with 35 diplomats, Farid explained how the Egyptian stock market could attract foreign investments.
This step comes in light of the EGX administration’s efforts to increase investments and mobilize more savings through the stock market.
Farid said: “Egypt has a comprehensive economic reform story that includes fiscal policies to control the budget deficit and monetary policies that have contributed greatly to achieving stability in the currency exchange rate, as well as legislative ones that included the issuance of several laws to improve the business environment and investment climate, and the structural policies that followed to develop and rehabilitate all sectors of activity economic, as well as strengthening social protection networks to support the lowest-income groups and those most affected by economic reform policies.”
Farid shed light on the position and role of the EGX in the Egyptian economy, as he explained that stock exchanges are a major player in providing the necessary financing for various economic entities to finance their expansion and increase operating rates, as well as a trading platform that allows dealers to invest and save in the shares of listed companies, which enables them to benefit from the growth of profits and the development of the business of these companies.
