Promising growth estimates for Egyptian economy play role in increasing investment in Egypt: Hermes

CAIRO - 23 November 2021: CEO of EFG-Hermes Holding, Karim Awad, said that the strong foundations and promising growth estimates for the Egyptian economy play a pivotal role in increasing the international investment community's interest in benefiting from the new opportunities that the Egyptian investment market offers.

Karim Awad affirmed, in a statement, Tuesday, Hermes Holding's commitment to its role in supporting the government's efforts to attract international investments and drive growth in the local market.

Awad praised the good steps taken by the Egyptian government for economic reform, which resulted in tangible positive transformations, whose positive impact was noticeably reflected on the confidence of investment institutions in the Egyptian market.

This came during the launch of the activities of the fourth session of the "Egyptian Economy Day" conference, on Monday, under the title "Mapping the future of the investment landscape".

For his part, Mohamed Ebeid, Co-CEO of the Hermes Investment Bank, praised the reform agenda adopted by the government as a pillar of the growth of the Egyptian economy, as it contributed to creating a stable and attractive investment environment for investors, despite the challenges facing the market following the spread of the "Covid-19" pandemic.

He referred to the efforts made by the government to enhance the participation of the private sector in the development of many economic sectors, and to enable financial inclusion, as well as to take a package of decisions to revitalize the performance of the Egyptian Stock Exchange, including reducing fees and taxes related to trading operations, and motivating companies to offer their shares on the Egyptian Stock Exchange.