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December 07, 2019
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EGX Participates in the First Egypt Economic Summit
Egyptian Exchange
Posted: Wednesday, 13 Nov 2019

The Egyptian Exchange participated in the First Egypt Economic Summit held under the auspices of H.E. Egyptian Prime Minister Dr. Mostafa Madbouly. Mohamed Farid Saleh, Executive Chairman of EGX delivered his keynote speech in the presence of Engineer Amr Nassar, Minister of Trade and Industry, Hisham Ezz al-Arab, President of the Federation of Egyptian Banks and Dr. Hani Srie-Eldin, honorary president of the Conference. During his speech, Mohamed Farid stated that capital markets are key players in achieving sustainable growth through the contribution to expand corporate ownership and spreading awareness of the capital market as a mechanism for saving and cumulative long-term investment. He added "Stock exchanges help businesses finance their growth and consequently expand their businesses in a way that contributes to increasing employment rates and the presence of a regulated commodities market." Farid pointed out that the Egyptian government’s bold move in adopting the economic reform program contributed significantly to the stability of macroeconomic indicators and addressed a number of structural imbalances on financial, monetary and legislative levels. This lead to strengthened economic growth rates and paved the way in attracting more private sector investment, which will inevitably contribute to higher productivity and export rates. Mohamed Farid concluded his speech stating that the process of promoting financial inclusion helps many SMEs to access various financial services and products and thus achieve greater growth in their business size and revenues which also supports efforts to achieve inclusive growth.
 
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