The Bank of New York Mellon Corporation (BNY) has commended the recent positive collaboration and unified approach supporting the private sector within the new economic coalition in Egypt, Invest-Gate reports.

They emphasized that coordination, transparency, and dedicated efforts to bolster the private sector not only enhance the appeal of the Egyptian market for investments but are also anticipated to have a positive impact on Egypt’s economic indicators.

This commendation took place during a roundtable discussion at BNY’s headquarters in London, coinciding with the UK door-knock mission organized by the British Egyptian Business Association (BEBA).

Distinguished participants included Gareth Bayley, the British Ambassador to Egypt; Ahmed Kouchouk, Egypt’s Minister of Finance; Hassan El-Khatib, the Minister of Investment; Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA); Rami Aboul Naga, Deputy Governor of the Central Bank of Egypt (CBE); Ahmed Issa, former Minister of Tourism and Vice Chairman of Banque Misr; Yasser Ismail Hassan, CEO and Managing Director of the National Bank of Egypt in UK; and Mohamed Metwally, CEO and Managing Director of NI Capital Holding.

During the proceedings, Egyptian ministers and leaders appraised the series of measures and reforms implemented concerning financial and monetary policies within the Egyptian economy.

This evaluation was marked by a transparent and objective approach, highlighting significant challenges and the government’s proactive strategies to address them, including the formulation of comprehensive long-term development plans.

Additionally, discussions covered the array of policies adopted by the Egyptian government to ensure sustainability and provide enhanced support for the private sector. The commitment to address and rectify impediments hindering foreign investors’ entry into Egypt was also underscored.

Furthermore, a group of economic analysts from HSBC UK Bank lauded the positive advancements in the Egyptian economy in recent times. They noted that the implemented measures by the Egyptian government had effectively mitigated various economic hurdles, leading to tangible improvements in key economic indicators. This positive trend is expected to continue, with forecasts predicting sustained robust growth rates.