The Egyptian Exchange (EGX) Participates In The Ninth Joint Conference Of The Council Of Egyptian-Japanese Businessmen

Monday, 19 January 2015

The Egyptian Exchange (EGX) participated in the ninth Joint conference of the Egyptian-Japanese businessmen. In EGX presentation, Dr. Omran emphasized that the courageous economic reforms applied recently and in the forefront subsidy system and tax reforms have greatly contributed in the restoration of the economic stability. He stressed that the economy has begun to clearly respond, which is reflected on the high economic growth rates to reach 4% during the current fiscal year which is expected to cross this frontier during the following year. In the mean time, the budget deficit decreased as well the inflation rates, which has raised Egypt’s credit rating for the first time since 2011, a sign cannot be unnoticed.
Omran highlighted that EGX outstanding performance during 2014 clearly reflects the future of the Egyptian economy. The significant capital increases which has been executed through market indicates the positive outlook for investors and companies of a better economic position during the coming period. He stressed that foreign investors have registered net purchases for the first time since 2010, soaring to an average trading value of more than LE 40 billion.
He also noted that Japan is very active in the field of development in Egypt; however, the Japanese investments are still less than the anticipated as it does not exceed 1% of the foreign investments in Egypt which represents not more than 0.07% of Japanese investment abroad. Omran invited the Japanese investors to look to the future and exploit the opportunities available in the Egyptian economy, especially in the infrastructure and the giant projects that amounts to USD 70-100 billion. He stressing that the studies classify Egypt as one of the top countries in the world in terms of return on infrastructure investment. He finally claimed to benefit from the leading Japanese experience in the field of small and medium enterprises development.