Prime Minister Ibrahim Mahlab has said that his government completely supports the capital market and Egyptian Exchange (EGX).
The government makes decisions that are meant to support the market and serve the best interests of both the state and investors, Mahlab said in statements after ringing the opening bell of Monday's trading session at the EGX.
"The government is keen on responding to any requests that serve public interests," he said, stressing that action will continue to achieve economic reform.
EGX chairman Mohamed Omran thanked Mahlab for inaugurating today's session and responding to demands of the capital market.
Omran said he is not working for personal gains, stressing that he had made clear his vision to the government regarding the Capital Gains Tax (CGT) law based on his economic experience.
He told MENA he would have supported the CGT law if he believed it was beneficial to the economy and investors.
"The reality pointed to just the opposite," Omran said.
The EGX made big gains in early trading Monday amid intensive purchases by investors following the government's decision to suspend the CGT for two years.
Source: MENA
GMT 08:11 2018 Wednesday ,17 January
BlackRock chief calls on CEOsGMT 08:51 2018 Wednesday ,03 January
Banks 'reticent' to work with SudanGMT 08:36 2017 Sunday ,31 December
US tax reform to cut earnings by $5 bnGMT 18:42 2017 Thursday ,28 December
Al-Sukait Tackles Investors’ ContributionGMT 18:34 2017 Wednesday ,27 December
Shaath reveals opening date of Metro third lineGMT 09:52 2017 Tuesday ,12 December
Senate tax plan would boost revenue $1.8 tnGMT 08:42 2017 Friday ,08 December
Post-Brexit London 'won't fall apart'GMT 10:04 2017 Monday ,27 November
Brexit without EU trade deal 'not end of world'Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©