Gulf investment funds return to Egypt after military takeover

Gulf countries promised 12 billion USD in aid within a week after the army's takeover, although Morsi had not been able to find adequate support in spite of his efforts to improve commercial relations with neighboring countries

Gulf investment funds return to Egypt after military takeover

World Bulletin/News Desk

Egypt received billions of USD aids after the Egyptian army's deposing of Mohammad Morsi, who was the first elected president, and the directors of some fund and portfolio companies in the Gulf countries have said that investors have begun to have confidence in the country after the takeover in Egypt.

Gulf countries promised 12 billion USD in aid in a week after the army's takeover in of the government, although Morsi had not been able to find adequate support in spite of his efforts to improve commercial relations with neighboring countries.

The Egypt bourse rose with the news of the funds which will come from the Gulf countries while serious decreases were expected. A statement made by the Finance and Fund Investment Department of the Egypt bourse stated that investors in Gulf countries acted to increase their positions and Gulf investment funds returned to Egypt.

Director General of United Arab Emirates Vision Investment and Portfolio Management Company made a statement to Anadolu Agency and said, "Recently, our customers have begun to show interest in the Egypt bourse. We prepare to buy investment funds on behalf of them. However, some of our customers expect the country to reach political stability."

Director of "Aloula Geojit Capital", the investment and capital company of Saudi Arabia, Samir Said noted that the number of those wishing to invest in Egypt bourse increased after statements had been made about the fact that Gulf countries wished to aid Egypt, adding "Serious developments will occur in the economy of Egypt after the aids of Gulf countries and the country will attract other foreign capital owners. Egypt bourse will yield a big profit to investors in close and middle term."

Güncelleme Tarihi: 16 Temmuz 2013, 15:06
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