Among the modernizations are a new central depository, clearing and settlement system. With 111 brokerage houses and 11 mutual funds, Egypt s capital market is thriving. From 1993 to 1996, Egypt experienced stock market growth of more than 17 times. In 1996, 207.8 million shares were traded for a total value of 11 billion sterling pounds compared with 72.2 million at 3.85 Billion sterling in 1995. This action precedes Egypt s anticipated inclusion in the IFC s global composite index in early 1997 and the investible composite by mid-1997.
All ratings are investment grade.
Qusseir-Marsa Alam Mountain lions, ostriches, gazelles, emerald mines and historic ruins are just some of the attractions luring investors to remote regions of Egypt s southern Red Sea coast . The sector, Qusseir-Marsa Alam, is still undeveloped. Plans have, however, been set in motion for this promising area. Potential tourist development in the area will include a number of hotels, a tourist village, and camping sites. The second location is Wadi Gelwa, 197km from Hurghada Airport.