Saudi Arabia is the largest investor in Egypt

Dr. Hossam Haiba, Chairman of the General Authority for Investment, said that the Gulf countries represent the largest percentage of investments in Egypt.

He pointing out that the Kingdom of Saudi Arabia is the largest investor in Egypt compared to the volume of governmental, institutional and individual investments, followed by the UAE, Qatar and Kuwait.

The promotional campaign for the Egyptian offerings by the Sovereign Fund, the Stock Exchange and the Financial Supervisory Authority; It revolves around specific sectors, according to the requirements of investors in the Gulf.

Gulf investment funds

For a campaign aimed at presenting proposals to Gulf investment funds concerned with investing in the stock market sector, pointing out that the Gulf side is currently engaged in conducting its studies; In preparation for entering the pre-offering period, or the offering itself through the stock exchange, according to the policy of each fund.

pricing crisis

He added that the most important question during the discussions that took place with the side; It was represented in the pricing crisis of the dollar, explaining that the Gulf countries do not fear the fluctuation of the pound against the dollar thanks to the flexible pricing system, but the real fear is the decline in the price of the pound after the offering process.

He stressed that all the measures taken by the Central Bank lead to stability in the exchange rate, explaining that there is a kind of stability in the rate of fluctuation of the pound against the dollar, which he described as not great.

Devaluing the currency

The head of the General Authority for Investment added; that he did not know any formal hadiths; By devaluing the currency and the Egyptian pound again, explaining that it is a matter for the Central Bank, in light of the remaining period ranging from month to two months from the start of the official offering.

He stressed that increasing the dollar proceeds in exchange for offerings is the most important factor in stabilizing the exchange rate.