Egypt stock market looks to smaller firms

Added On August 9, 2017

Egypt is aiming to support small and medium-sized companies, as a way to speed up the country's economic reform.
Monday's reform session was opened by Egyptian investment minister as well as the new chairman of Egypt's stock exchange.
SOUNDBITE(ARABIC) Mohamed Farid, New Chairman of Egyptian Exchange
"The main aim, with deepening reform of the market, is continuously supporting and financing the small and medium-sized companies, so these companies, when they grow, will bring more investments."
Nearly 270 companies are listed on the Egyptian Exchange.
Farid said he is planning new mechanisms to attract even more companies.
SOUNDBITE (ARABIC) Dr. Sahr Nasr, Minister of Investment of Egypt
"The global and international organizations measure the economics of any country by exchange market. So, in the upcoming period, the world will know that the economic reform in Egypt has been done successfully and there's development in the results of the economic reform, which has been led by the president."
The government is also launching public shares of its state-owned companies in the next three to five years, in the fields of petroleum, services, chemicals, shipping, maritime and real estate.