The General Authority for Investment and Free Zones (GAFI) announced that 1,276 companies were established in November with a total capital of EGP 1.9bn, creating 7,942 job opportunities.
In GAFI’s monthly report on established companies, 652 companies were established according to Law No. 8 of 1997, with 51.1% of the total capital value.
The report added that 624 companies were established according to Law No. 159 of 1981, which represents 48.9% of the capital value.
The capital value is divided into Egyptian capital worth EGP 1.6bn, representing 89.3% of the total value; Arabian capital worth EGP 153.5m or 8.2%; and EGP 47.7m as foreign capital represents 2.5% of the total value.
The report showed 557 companies with diverse activities, which represent 43.7% of the total companies established in November; 360 companies in the services activities representing 28.2%; and 239 companies in industrial activities representing 18.7%.
In addition, 4.4% or 56 companies operate in industrial activities; 37 companies in communication technology activities, representing 2.9%; and four companies in tourism activities or 0.3% of the total companies.
The majority of the companies—1,232 companies or 96.6% of the total—work across all Egyptian governorates, while 44 companies are working in specific regions, like Upper Egypt and Ganoub El-Wadi.
There are other companies established in Sinai, the eastern Delta, the Suez Canal area, and the western Delta.