Despite global economic headwinds, the MENA region is proving its resilience. At the 19th Annual EFG Hermes Investor Conference in Dubai, leaders praised the Gulf’s capital markets, tech adoption, and economic reforms as drivers of growth.
EFG Holding’s Group CEO Karim Awad said the region’s dynamism is reflected in growing IPO activity and sector diversity. “External shocks often overshadow the region’s long-term potential,” he told Arab News, adding that new U.S. tariffs are “not a massive game-changer.”
EFG’s Ahmed Shams echoed the optimism, particularly around Saudi Arabia’s Vision 2030. While oil price volatility could delay some projects, he said reform momentum would continue. “There is no turning back.”
Shams highlighted opportunities in Saudi real estate and utilities, while Co-CEO Mohamed Ebeid noted a $20B ECM deal volume last year. However, foreign investor allocations remain tight due to oversubscription.
Egypt also stood out, with fintech success stories like Valu and a strong FX buffer that moved from a $29B deficit to a $10B surplus in 2024. Deputy Central Bank Governor Rami Aboulnaga credited policy discipline for reducing inflation to 12.8%.
Dubai’s booming property market and foreign investor appeal were also spotlighted. “Office space is our biggest constraint,” said Dubai Economic Development Corp. CEO Hadi Badri.
While U.S. tariffs and global inflation loom, MENA leaders argued the region’s diversification shields it from the worst.
“You should start deploying in the market,” Ebeid urged — summing up the region’s confident tone.