Chief-of-Staff of the Armed Forces Lt. Gen. Mohamed Farid attended Wednesday the main stage of a joint military drill dubbed "Saif Al Arab," - "Sword of Arabs".
Special forces from both countries are also taking part in the exercise.
He said that global and oil market declines are normal due to the current crises and the global panic of the coronavirus.
In a seminar held at the headquarters of Business Today Egypt in Cairo, Farid started with a presentation on the stock exchange management efforts to develop the market in coordination with all parties.
"Offering state-owned companies is one of the most important steps that countries take to revitalize the stock market,"Farid stated.
Farid added during Egypt’s Economic Summit that Economic reform is a method and not a goal, Farid
This came during the session “Investing in financial instruments”, held within the activities of the second day of “Egypt Can” conference.
Chairman of EGX clarified Monday that increasing the competitiveness of the Egyptian market is an important tool to attract foreign and domestic investments to the Egyptian economy.
President Abdel Fattah al-Sisi met on Wednesday with Minister of Defense Mohamed Zaki.
The prime minister held a meeting to boost the Egyptian stock market's role as a sustainable factor in the social and economic development plan.
The Egyptian Exchange played a role in attracting foreign investments to Egypt by 0.04 percent despite the slowdown in the global economy during 2018, Nasr said.
Farid said that three private firms expressed their desire to enter the market, noting that the procedures of the offering have started.
Now, there are 36 real estate companies registered in the Egyptian bourse at a capital of LE 85 billion.
Farid added that the delay of listing the shares is not related to the bourse but to the companies themselves
AELP is an electronic linking project between African exchanges to promote intra-continent investments in the continent
Stock Exchange Board Chairman Mohamed Farid welcomed the prime minister and said today's visit reflects the government's interest in the money market and in raising the trading volume at the stock exchange.
Farid clarified in a news conference that this step comes with EGX’s plan to restructure the indices.
Farid said in a news conference Thursday that foreign purchases amounted to LE 2.04 billion during the period from September 2014 to October 2016.
The EGX chairman said that these IPOs are CI Capital, B Investment Holdings, Cairo investment and Real Estate Development, and Sarwa Capital.
The bourse said in a statement that Farid expounded to the investors the brave economic reform measures taken by the Egyptian government.