Hassan El-Khatib, Minister of Investment and Foreign Trade, affirmed that the clear progress in the Egyptian stock market reflects the ability of the Egyptian financial market to provide modern financial instruments.

He added that these transformations support companies in their growth plans and enhance the effectiveness of the market system.

This statement came during the Minister’s participation in the bell-ringing ceremony to mark the opening of the Egyptian Stock Exchange trading session today, in celebration of the completion of the acquisition of the National Transport and Offshore Services Company (Nosco) by the Egyptian Transport and Trade Services Company (Egytrans).

The Minister also noted that the government is moving at a rapid pace to strengthen the institutional structure of the financial market by developing rules and tools that increase its attractiveness for investment.

He pointed out that the stock exchange is a “true mirror of the economy” and that its performance improvement reflects the strength of the current economic trends the government is working on, under four key policies: fiscal, monetary, trade, and state ownership policies.

He highlighted that the ongoing development represents a “qualitative revolution” in the path of modernizing the financial market, and that Egypt is clearly working towards a strategic goal of ranking among the top 50 countries globally in stock market indicators and economic competitiveness, considering that this goal is “a current ongoing process.”

He further explained that international comparative experiences show that Egypt is moving in the right direction with advanced rates.

Minister Hassan El-Khatib also emphasized that mergers, which expand the ownership base and allow companies to inject more investments and increase capital, are what the economy needs for growth.

 He confirmed that the development witnessed in the stock market over the past two years is the result of the work of a reform group focused on financial, economic, and administrative policies.

He added that their strategy continues to increase the volume of offerings and support the financial market.

He also confirmed that this acquisition represents an investment opportunity, likely to attract more investors, whether individuals or institutions, to the Egyptian stock exchange, especially in light of the positive indicators reflecting its development.