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Attracting new companies at top of EGX priorities during coming period - Daily News Egypt

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Attracting new companies at top of EGX priorities during coming period

There is an interest in providing investment opportunities and in SMEs to support them in financing their expansion

Attracting new companies and providing various investment opportunities is at the top of the Egyptian Stock Exchange’s (EGX) priorities during the coming period, said Mohamed Farid, the chairperson of the EGX in a meeting held with the team responsible for promoting and attracting large companies to list themselves in the stock exchange.

“The team working on the promotion file has to increase its interest in listing SME projects. The team also has to help SMEs in providing alternative financing to sustain their growth,” said Farid. Attracting large companies will help in increasing investment opportunities available to investors in the market.

He stressed on the importance of the cooperation between industrial and investment groups, such as the Chamber of Commerce and Chamber of Businessmen Association in various governorates across Egypt. He also assured the importance of making the members of these industrial and investments groups aware of the role of the capital market, in providing financing for companies’ expansions and in enhancing the concept of good management and governance.

At the end of the meeting, Farid stressed the necessity of quickly completing the development of an integrated plan in this regard in a specific time frame for the various promotional activities, both in terms of listing companies or increasing the size of investments in the capital market, which will enhance the current Egyptian economy.

Egyptian Prime Minister Sherif Ismail appointed Mohamed Farid as the new chairperson of the EGX on 6 August 2017.

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