People attend the Euromoney conference in Beirut, Monday, May 15, 2017. (The Daily Star/Mohammad Azakir)
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The government must give incentives to investors to list on the Beirut Stock Exchange if it wants to grow the capital market, capital markets experts said Monday.Zebian's remarks were reiterated by Souraya Machnouk, a partner at Abou Jaoude & Associates Law Firm, who said that investors must be given financial incentives to go to the capital market.For Mohieddine Kronfol, chief investment officer at Franklin Templeton Investments Middle East, the BSE should first attract local investors to invest in the capital market in a bid to encourage foreign investors.Capital Markets experts at the Euromoney Conference also emphasized the need to privatize the BSE in order to attract investors.Likewise, Zebian said a research by the CMA identified more than 40 companies that are interested in listing once the newly established and privatized BSE is created.Janet Heackman, managing director at the European Bank for Reconstruction and Development, agreed with Machnouk on the need to privatize the BSE by saying that there exist only 11 investors today of whom 8 are financial institutions.
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