Mohamed Farid, President of the Egyptian Exchange (EGX), spoke about 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.
In a meeting with 35 diplomats, Farid explained how the Egyptian stock market can attract foreign investment.
This step comes in light of the EGX administration’s efforts to increase investments and mobilize more savings through the stock market.
Farid said: âEgypt has a comprehensive history of economic reforms which includes fiscal policies to control the budget deficit and monetary policies which have greatly contributed to the stability of the exchange rate, as well as legislative measures which included the enactment of several laws to improve the business and investment climate, and the structural policies that followed to develop and rehabilitate all sectors of economic activity, as well as the strengthening of social protection networks to support the most vulnerable groups. smallest and most affected by economic reform policies.
Farid shed light on EGX’s position and role in the Egyptian economy, explaining that the stock exchanges are a major player in providing the necessary funding to various economic entities to finance their expansion and increase operating rates, as well as a trading platform. which allows traders to invest and save in the shares of listed companies, allowing them to benefit from the growth in earnings and development of the business of these companies.