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Long-term investors return to Middle East
16 May 2014
The region’s investment prospects are looking increasingly attractive, BNY Mellon’s Peter Gotke tells Stephanie Baxter
His firm has seen foreign investors coming back to Egypt,
mostly through depositary receipts rather than the exchange.
The local exchange closed for seven or eight weeks during the
country's revolution three years ago, which was "really bad"
for the market and led investors to be reluctant to risk going
through the exchange.
"The sentiment now is that if you want to invest in Egypt you
probably want to do it through DRs because as well as getting
in you can get out if you really want to. So it's a sanitary
tail for Egypt."