News Details
Ministry of Finance Discusses Means of Cooperation with MSX
27/11/2022
Dr. Mohamed Maait, Minister of Finance, met with Muscat Stock Exchange (MSX) delegation headed by Mohammed Mahfouz Al-Ardhi, Chairman of the Board of Directors, and Haitham Salem Al-Salmi, CEO of Muscat Stock Exchange. The meeting was attended by EGX Chairman Rami El Dokany, Sherine Al-Sharqawi, First Assistant Minister of Finance for Economic Affairs, Dr. Mona Nasser, Assistant Minister for Follow-up and Customs Development Projects, Nevine Mansour, Advisor to the Deputy Minister, and Dr. Mohammed Ibrahim, Assistant Minister for Policies and Economic Affairs.
Dr. Mohamed Maait, Minister of Finance, stressed on the importance of Arab economic partnership to achieve integration along the Arab region. He added that this would be one of the elements to overcome the current global challenges.  He added that Egypt is open for Arab investments with a more attractive investment climate based on a strong infrastructure capable of accommodating productive and development expansions, explaining that we have promising investment opportunities in various sectors, especially in "green transformation" projects, in line with the COP27, organized in Sharm El-Sheikh beginning of November 2022.
He added that the Egyptian economy is more able to deal flexibly with external fluctuations, as a result of the economic reform program. He added that we look forward to increasing Omani investments in Egypt and enhancing trade exchange between both countries, explaining that we are ready to increase bilateral cooperation, exchange of experiences and knowledge transfer in all fields, especially the economic aspect.
Rami El Dokany, Executive Chairman of EGX, stressed the importance of the measures implemented within the economic reform program on the fiscal and monetary policies levels, stressing the positive impact of these measures on the performance of the main indices of EGX, especially the EGX30 and EGX70 indexes. EGX100, and the increase in daily trading values reaching an average of EGP 1.6 billion.  He explained the positive impact on the increase in the number of new investors during the current year compared to previous years.
El-Dokany explained that the increase in market capitalization exceeded the levels of EGP 840 billion this week, pointing to the importance of activating the government privatization program to maximize the benefit from the current positive market situation and its ability to absorb new offerings.
Mohammed Mahfouz Al-Ardhi, Chairman of the Muscat Stock Exchange, stressed that the Egyptian development projects are attractive to the Omani investor, explaining that strengthening bilateral economic cooperation and exchanging experiences with Egypt and the Arab became an urgent matter.