Investors Worth $10 Trillion Pick Egypt to be the Best Performing MENA Economy in 2017
EFG Hermes One on One Conference is the largest investment forums dedicated to the MENA region and kicked off in Dubai with some of the world's biggest investors predicting that Egypt will be the region's best economic performer in 2017.
Yesterday, the 13th annual EFG Hermes One on One conference kicked off in Dubai which was attended by 700 leading companies, fund managers, and financial institutions, across the Middle East and North Africa (MENA). Investors, who collectively control assets of more than $10 trillion in capital, chose Egypt when asked in a poll which would be the region's best-performing economy of 2017.
Egypt's reform and market potential has encouraged investors who see the country in the beginnings of a major economic recovery. It received 46 percent of the votes from investors for the best performing market, ahead of UAE which received 16 percent, and Pakistan with 13 percent.
32 percent of respondents believe that health care stocks will have the highest performance in 2017, followed by 27 percent who chose banking stock, and 22 percent for retail and consumer company stock.
Despite a 2016 slump that enabled other emerging market to outperform the region economically, the MENA region is expected to be ahead of other emerging markets in 2017 according to 60 percent of the respondents.
EFG Hermes One on One conference is the largest Middle East and North Africa dedicated investor event globally.
(Photo: Daily News Egypt)
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