Minister of International Cooperation Rania el Mashat on Tuesday 5/10/2021 opened Tuesday's trading session of the Egyptian Exchange (EGX) on the occasion of the World Investor Week 2021.
A number of presidents of governmental and private universities, members of the stock exchange's board of directors, and representatives of a number of professional associations working in the stock market took part in the session's inauguration.
The World Investor Week was first launched in 2017 by the International Organization of Securities Commissions, with a view to enhancing the levels of financial knowledge and fostering investors' understanding on how to properly invest in financial markets in a way that ensures their rights.
The international cooperation minister said that the World Investor Week provides an ideal opportunity for promoting EGX's role in stimulating the national economy.She sheds light on the importance of capital markets during the coming period, especially in light of the world's demand for green and innovative financing tools to advance the 2030 Agenda for Sustainable Development.
Mashat indicated that capital markets play a key part in financing large and restricted small and medium companies, so that they could be able to fund their expansions, increase their business volume and enhance their growth opportunities.
On his part, EGX Chairman Mohamed Farid, said that celebrating the World Investor Week reflects the state's increasing involvement in supporting and promoting financial culture and raising awareness of issues related to the capital market, for being one of the most important elements of the value chain to develop the Egyptian market.
Farid revealed that the EGX administration seeks to create partnerships with the education and culture ministries to present educational content that contributes to spreading financial culture for all categories, especially for children, through interactive dramatic stories.
"The current administration believes that the process of enhancing financial culture and raising levels of financial awareness and knowledge is one of the most important targets of the value chain that it adopts to develop the market and raise efficiency and competitiveness, by increasing the number of listed companies on the "supply side" and the number of investors "the demand side", as well as establishing new financial mechanisms while improving the environment for trading and listing operations,” Farid said.
For her part, Nandini Sukumar, CEO of the World Federation of Exchanges, praised the EGX administration's efforts to spread financial culture and raise levels of awareness about the basics of investment and savings in the stock market, saying that promoting financial culture is an essential part of the bourses' work to help investors participate in the economic growth of countries.