CEO conf. on economic recovery opens

The 9th Chief Executives Conference opened on Sunday under the auspices of the Ministry of Finance.

Minister of Finance Mohamed Maeet is chairman of this year’s meeting, themed ‘2024, Year of economic Recovery Exploration’.

Discussions will focus on the role of financial markets and the non-banking financial services sector in sustainable economic development, which will entail boosting the national economy and encouraging the transfer of savings into new investments and projects in economic and social development.

Talks will also dwell on the role of the Stock Exchange to reverse the economic decline resulting from the dollar crunch.

Financial Regulatory Authority (FRA) chairman Dr Mohamed Farid said the Stock Exchange had witnessed strong growth thanks to amendments to regulations governing its opertions approved.

Market capitalisation on the Stock Exchange reached LE2 trillion, compared to LE850 billion in mid-2022, while daily transactions have gone up from150,000 worth LE5.5 billion, Farid said.

General Authority for Investment and Free Zones chairman (GAFI) Hossam Heiba said the launch of the automotive industry strategy developed with international car manufacturers will promote Egypt as a regional export centre to the European Union and the Middle East region.

Advisor to the Minister of Business Sector Mohamed Hassouna said in statements to The Egyptian Gazette, that the financial market is very dynamic due to the presence of professional players with huge capital.