Participants at the EFG Hermes 5th London MENA Conference 2015 affirmed that the UAE is becoming an attractive prospect for growth, because its currency is pegged to the dollar, according to a guaranteed basis, and because the country is implementing effective reforms as well as hosting World Expo 2020.
The Hermes Conference presents groups of the most distinguished listed companies from 13 countries in the region, with a total market capitalisation of approximately $282 billion, UAE based Al Bayan reports.
Karim Awad, CEO of EFG Hermes, says the MENA region will be a safe haven for investors in the face of emerging market disturbances around the world.
He points out that this year held a lot of challenges and difficulties for emerging markets around the world and states that he is fully convinced that the MENA markets are overflowing with investment opportunities supported by unique growth potentials and attractive stocks assessments.
He adds that the economies of some regions may be affected by the drop in the prices of oil as well as commodities, while economies less dependent on the oil sector are expected to make significant progress during the next phase.
($1 = AED3.67, at time of publishing)