Chairman of the Egyptian Exchange (EGX) Mohammad Omran will visit Washington DC to conduct meetings with several international investment institutions organised by Bank of America, and will participate in the meetings of the International Monetary Fund (IMF) and the World Bank.
In a press release, the EGX stated the Institute of International Finance (IIF) invited Omran to Washington DC to participate in IIF’s roundtable meetings. Participants at the meetings will discuss investment and capital flows in emerging markets on the sidelines of the 2016 Spring Meetings of the IMF and the World Bank.
Omran will hold talks with three international investment institutions which manage investments of $100bn to discuss possible investment in the EGX.
These institutions include Ashmore Equities Investment Management, is the largest investor in emerging markets; the Rock Creek Group; and SQM Frontier Management. The Bank of New York (BNY) and Auerbach Grayson organised the meetings.
Several ministers, executives and heads of the largest world financial institutions are expected to attend the meeting led by the World Bank Executive Director, the Banque de France Governor, the Central Bank of Brazil Governor, Minister of Economy in Argentina, and the Director General of Legal Sector at IMF, as well as the executives of JP Morgan and UBS.
Omran announced that he plans to developing markets’ conditions, challenges, and opportunities. He will also promote investment opportunities in the EGX, focusing on the market’s strong asset turnover ratio and the recent reforms to the its regulatory structure which have earned the World Bank highest qualification for disclosure and protection of shareholders’ equity in the OECD area.
Omran stated he will emphasise Egyptian economic growth opportunities, specifically the Egyptian government’s infrastructure and energy projects as well as small and medium-sized enterprises (SMEs).