EFG-Hermes helps boost foreign direct investment in the MENA region

The conference, that is to be held during the period from March 9th to13th allows representatives from about 60 companies with a total market capitalization in excess of $345bn to have the opportunity of meeting and discussing investment opportunities with global investors.

Major corporations from across 10 countries in the region; Bahrain, Egypt, Jordan, KSA, Kuwait, Lebanon, Oman, Qatar, Palestine and the UAE will aim to attract foreign direct investment (FDI).

They are to benefit from the fact that the economies of the US and Europe have been hurt by the sub-prime crisis and the subsequent credit crunch, whereas the outlook for emerging economies looks strong and is resulting in increased international interest in emerging market equities.

This interest extends to the Middle East and North Africa, where levels of foreign portfolio and direct investment, M&As and IPOs are at record highs.

Regional companies attending the conference represent a range of sectors including banking, telecoms, real estate, tourism, textiles and others will aim to build upon that trend and continue to attract foreign direct investment (FDI).
Key-note speakers at this year's conference include; Governor of Central Bank of Lebanon, Riad T. Salameh; Minister of Investment, Mahmoud Moheieldin; Minister of Finance, Yousef Boutros Ghali; Assistant Secretary General and Head of Policies Secretariat at the National Democratic Party, Gamal Mubarak and Director of the Office of his Majesty King AbdAllah II, the Royal Hashemite Court -Amman, Bassem AwadAllah.

"This year's conference has attracted more than double the number of attendees of last year. Over 140 foreign investors from the United States and Europe had one-to-one access to about 150 corporate executives and decision makers from leading regional companies," says Sherif Cararah, Managing Director Brokerage and Distribution at EFG-Hermes. "I am glad to say that due to the enormous number of investors of this year's conference, we organized group sessions for the participants. Moreover, the core days of the conference have been extended from three to four days," Cararah added.

"Foreign investment is a crucial component of Middle Eastern economies. Through our presence across the region, we have had a first-hand look at what countries can offer, and are now giving those countries and corporations within them access to global investors in one centralized location," says Hassan Heikal, Co-Chairman and CEO of EFG-Hermes.

"In contrast to what is happening in Western economies, where the economies are slowing down, the outlook for the MENA region continues to be very positive; with the region forecast to see incredibly high rates of economic growth over the next few years," says Yasser El-Mallawany, Chairman and CEO of EFG-Hermes. This conference serves as a one-stop-shop for investors looking to make a mark on the MENA region. Thus, it aims to benefit not only the regional players looking for global investment, but also major international corporations looking for a foothold in the region."