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.