PM reviews efforts to lure more investments in capital market

Market

Prime Minister Moustafa Madbouli followed up on efforts to attract more investments in Egyptian capital market during a meeting Tuesday, in the presence of Governor of Central Bank of Egypt Hassan Abdullah, Minister of Planning and Economic Development Hala el-Said, Minister of Finance Mohamed Maait, Board Chairman of the Egyptian Financial Supervisory Authority Mohamed Farid and Head of the Egyptian Stock Exchange Rami el Dukkani.

Farid reviewed the most important decisions and measures taken by the Authority to contribute to activating the Egyptian bourse and non-banking financial activities.

He talked about the premier’s decision to introduce some amendments to the statute of the Capital Market Law to ease the work of investment funds and promote achievement of sustainable development goals through issuing different sustainability bonds, in accordance with international instructions.

Farid said he held talks with the minister of state for emigration and Egyptian expatriates’ affairs to increase investments of Egyptian expats abroad in the stock exchange.

In turn, Dukkani said EGX 30 index achieved gains and was up 32.8% since August and EGX 70 increased 30% and average daily transactions were up to 1.6 billion Egyptian pounds.

He as well pointed out to coordination efforts with the state bodies concerned toward promotion of public offering program that would up liquidity rates and lure more investors, in addition to attaining stability in the market.

Source: State Information Service Egypt