EGX’S Chairman lectures IDS’s future ambassadors on Egyptian Capital Markets Development
26/11/2020
The
Egyptian Exchange (EGX) and the Ministry of Foreign Affairs, through its
educational arm, The Institute of Diplomatic Studies (IDS), have agreed to
provide lectures to new diplomats, introducing the role of capital market in
supporting and developing the economies and contributing to the goals of
economic and social development plans.
These lectures are a continuation of EGX’s efforts to promote the Egyptian
financial market internationally enhancing the opportunities to attract foreign
investment to promote economic growth in Egypt.
Dr.
Mohamed Farid, Executive Chairman of EGX, through his lecture to batch 52 of diplomates,
reviewed the developments of the economic reform program adopted and
implemented by the Egyptian Government, which contributed to stable growth
rates, the steady macroeconomic indicators as well as the growing role of the
private sector in Egypt.
He
added that the economic reform program implemented by the Egyptian Government
is a different one from all other economic programs executed throughout the
ages. The current program dealt with the
main issues which are the deficit of the state budget, reviewing all the milestones
of the current reform program; fiscal, monetary and legislative policies,
starting with the issuance of the VAT law through to the liberalization of EGP
FX rate and the subsequent structuring of fuel subsidies, regulation of the
energy market and the pricing of products.
Ambassador
Khaled Radhi, the Assistant Foreign Minister and Director of the Diplomatic
Institute (IDS), expressed his
appreciation for the speedy response of EGX to the Institute's proposal for
cooperate to build the capacity of diplomats "ambassadors of the
future" in matters related to capital market, and to enhance cooperation
that contributes to the presence of diplomatic missions abroad.
EGX’s
Executive Chairman called on future ambassadors to market the latest Egyptian
Economic Developments and the resulting investment opportunities, especially in
the Egyptian stock market to the business communities in the countries of their
mission worldwide, to attract more investment.