EGX chairman urges Japanese businessmen to eye Egypt’s promising economy

Chairman of the Egyptian Exchange (EGX) Mohammad Omran invited Japanese investors to take advantage of the opportunities available in the Egyptian economy, especially in infrastructure and “giant projects that amount to $70-100 billion,” according to an EGX statement.

Omran’s statement was part of EGX presentation at the 9th Joint Conference of Egyptian-Japanese Businessman Council held in Cairo Saturday.

In his presentation, Omran stressed that the “courageous” economic reforms applied recently, topped by subsidy system and tax reforms have “greatly contributed to restoring economic stability.”

“Studies classify Egypt as one of the top countries in the world in terms of return on infrastructure investment,” said Omram.

He further noted that the economy has started to improve as growth rates rebounded to approach 4 percent during the current fiscal year. Also, Egypt’s budget deficit along with inflation rates started to decrease, helping to upgrade Egypt’s credit rating for the first time since 2011