Madbouly discloses plan for listing up to 20 companies on EGX in 2023
Updated 2/1/2023 9:54:00 AM
Arab Finance: The Egyptian government is looking forward to announcing the detailed plan for listing up to 20 companies on the Egyptian Exchange (EGX) this year, Prime Minister Mostafa Madbouly stated in a press conference on February 1st.
According to collected data, foreign investors pump at least 80% of their cash into the expansion of existing businesses. Madbouly said.
Foreign investors are keen to ensure the success of any entity they invest in and look forward to its growth and expansion to gain more profits, he added.
Moreover, Madbouly noted that the lion’s share of foreign investments’ returns are being reinvested in Egypt.
In the same vein, he pointed out that the Cabinet has approved the issuance of new 4 Golden Licenses, under which the General Authority for Investment and Free Zones (GAFI) will initiate related procedures.
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