NEW ALAMEIN, Egypt, Aug 26 (MENA) – Prime Minister Mostafa Madbouly reiterated on Tuesday the government’s full support for developing the Egyptian capital market as a key tool to achieving economic growth targets, boosting investment, and strengthening private sector participation in the economy.
This came during a meeting at the government headquarters in New Alamein City with Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA), and Islam Azzam, the new Chairman of the Egyptian Exchange (EGX), in the presence of Finance Minister Ahmed Kouchouk and Ghada Nour, Assistant Minister of Investment for Promotion and Government IPOs.
The FRA chairman underlined the continued coordination between the Authority and the EGX to ensure market stability and enhance its role in financing companies and offering diverse investment solutions.
He noted that financial technology and sustainability are central pillars for strengthening the non-banking financial sector’s contribution to the economy, alongside ensuring transparency and investor protection.
For his part, EGX chief Islam Azzam said the stock exchange will focus on two parallel tracks: deepening the market by introducing new financial products such as derivatives and activating the market-making mechanism, in order to broaden investment opportunities and enhance competitiveness.
He stressed that trading will remain fully subject to supply-and-demand dynamics, adding that the EGX will pursue an open dialogue with all stakeholders to design more effective policies.
Meanwhile, Minister Kouchouk revealed that incentives are being studied for large-scale listings on the EGX to encourage companies to list, trade, and expand ownership, thereby attracting local and foreign investments.
He added that coordination with the FRA is also underway to support the government’s plans to increase private sector participation through new IPOs of both private and state-owned firms, contributing to higher liquidity and a more diversified investor base. (MENA)
