We are awaiting the call from the Financial Supervision and the Stock Exchange for a community dialogue to activate the Stock Exchange

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The demands for the revival of the Egyptian Stock Exchange were renewed after President Sisi instructed the government to develop a comprehensive and integrated vision to revive the stock exchange and the capital market in Egypt by expanding the ownership base for state-owned companies. armed forces affiliated and working to Quickly finalize the offer of two national oil and water companies affiliated to the National Service Authority of the Army, which is what capital market experts believe will revive the market with the need for a number of other stimuli which is represented in the establishment of incentives. to register companies, encourage the attraction of foreign funds, and reconsider the capital gains tax, which they believe did not add anything new to the government, but rather negatively impacted transactions.

During the Egyptian family’s breakfast ceremony, President Abdel-Fattah El-Sisi instructed the government to begin developing an integrated vision to revive the Egyptian Stock Exchange and to start offering shares of state-owned companies on the stock exchange, and others companies owned by the armed forces before the end of the year.

ICMA President: We await the invitation of the Financial Supervision and the Stock Exchange for a community dialogue to revive the Stock Exchange

Mohammed Maher

Mohamed Maher, head of the Egyptian Security Association, ECMA, said that the stock market support should review a number of files, the main consideration of which is to impose tax on the stock market, which was approved from the beginning of this year. capital tax.From the capital so that it is deducted from the tax base before the collection of commercial and industrial profit tax on the company as was the case in the past, and encourage the demand side by institutions that have large financial liquidity such as banks, insurance companies and economic bodies such as postal, insurance and pension funds to play a role in Investing in the stock market.
He added in a special statement that the activation of the supply side requires the activation of the government’s supply program, which includes about 40 companies, the implementation of which has been delayed for more than 6 years, either by the public business sector, government agencies or companies affiliated to the armed forces, according to what President Sisi announced in his mandate.The launch of the two companies, Safi Water and Watania Petroleum, which are affiliated with the armed forces.
Maher demanded that there should be an investment minister who would play an effective role in monitoring the activities of the stock exchange and working to increase the volume of investments, both directly and indirectly in Egypt, and working to reduce the fines to attract investors. , whether domestic or foreign, facilitate procedures and reduce fees on acquisitions and mergers, which means that they There is an advantage to mergers and amalgamations of entities, especially as they are currently suffering from tax problems.
He pointed out that the Egyptian Financial Supervisory Authority and the Egyptian Stock Exchange, as the official bodies representing the financial market, should convene a meeting with all market parties and discuss through a community dialogue the drafting of rules and proposals around the market. to revive.
Securities Division: You need to start offering strong stocks to attract liquidity

Awni Abdel Aziz

Awni Abdel Aziz, head of the Securities Division of the General Federation of Chambers of Commerce, stressed that the revival of the stock market and the return of liquidity must be due to the presence of good commodities that help new investors from outside and Egypt is fortunate. .

He explained in a special statement that the entry of iFinance showed that the market crisis is in offering good shares, which is what awaits all traders, and then the government must speed up the offer of state-owned companies to offer the private sector encourage to take it. also step in and take advantage of the stock market as a tool for financing

Al-Shahidi: Companies that publish their financial statements and carry the registration burden must comply with appropriate incentives

Mutasem Al Shahidi

On the other hand, Mutasim Al-Shahidi, an expert in financial markets, believes that the issuing companies have no incentive to announce their disclosures and financial statements in public and to apply standards of transparency and governance, in particular as their competitors can benefit from it. this data and information, and listing in the stock exchange will constitute for them an increase in financial liabilities related to fees Listing, investor relations and the continuation of the listing process, and therefore incentives for listing in the stock exchange should be set, especially with the increase in financial liabilities.
He explained in a special statement that these incentives should be a tax exemption within the limits of the Central Bank return. Anything outside this limit can be taxed so that the cost and expense of registration must be reduced. Companies need benefits in handling of the banking system, commercial register and licenses.
He said the capital gains tax experience was not successful and should therefore be reconsidered, by linking the national number to a unified number for the financial stock exchange, and offering new companies with greater profit multiples than the existing companies.
He pointed out to the companies in the private sector that the goal is to obtain the greatest possible financing without looking at the other dimensions of the market, either by increasing the depth of the market and stimulating trades, and that is the role of the government by offering its companies, and it should announce a specific schedule for listing companies and not waste opportunities, as happened in The first quarter of 2017, which is a good and significant period for the supply was.

Mohammed Saeed

Saeed: The Stock Exchange must focus on promoting the target groups

Mohamed Saeed, an expert on financial markets, believes that the stock market suffers from a lack of incentives and a decrease in liquidity, and therefore serious steps must be taken to attract liquidity, in addition to the return of lost confidence between the markets. -based authorities represented in the financial supervision and the Egyptian Stock Exchange between some and between them and the traders in the market The return of the real stimuli.

He added in a special statement that a number of decisions should be made, the first of which should not be uncompromisingly against speculators in the market and accuse them of manipulation in light of the presence of a number of real measures against them. taken, and only stops operations without being referred to the judiciary, and then this measure harms other shareholders and creates a huge gap between Officials and shareholders.
He explained that the stock market neglects its real role in promoting targeted investors in the market and promotes university and school students, which is apparently less than the required performance and can not promote the market, especially in light of the enjoyment of many opportunities that disappear in the absence of attraction of liquidity.
Saeed has demanded that tax incentives be introduced for companies that are expected to be listed on the stock exchange and also for investors, especially since the capital gains tax has harmed the market and investors in light of the government’s reluctance to approve the incentives offered by the Council of Ministers approved. recently, and then the government’s vision in developing the stock market should make it a priority, especially as it makes it possible to attract foreign exchange in light of the time when Egypt is suffering from a foreign exchange shortage and it is supported by the decline in share prices in light of the companies achieving good business results.
He explained that access to the International Monetary Fund may not be as easy as last year and could force the government to expand ownership and involve the private sector, and then exceptional measures must be put in place, in addition to the abolition of the capital gains tax, or at least its deferral for two years.

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