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13,000 companies established within 7 months, an increase of 12%: GAFI - Daily News Egypt

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13,000 companies established within 7 months, an increase of 12%: GAFI

Service sector accounts for largest investment share, amounting to EGP 20.9bn


The general Authority For Investment and Free zones (GAFI) announced in a report that the number of established companies and of those who increased their capitals in the first seven months of 2018 increased by 12.2% to reach 13,011 companies, up from about 11,096 companies during the same period last year.

According to the report, the volume of investments of the companies that were established increased during the first seven months of this year by 3.7% to reach EGP 55.94bn, up from EGP 53.96bn during the same period last year.

In terms of the volume of investments, the service sector accounted for the largest share of investments, amounting to EGP 20.9bn in the first seven months of this year compared to EGP 15.29bn during the same period last year, an increase of 36.8%.

“Cairo was at the forefront of the governments that witnessed the establishment of the largest number of companies during the period mentioned, with more than 6,357 companies compared to 4,856 in the same period last year, a growth of 30.9%, followed by Giza governorate with 2,250 companies,” according to GAFI.

The report noted that Egyptian investors increased during the first seven months of this year by 5%, and the volume of their investments reached EGP 44.828bn compared to EGP 42.67bn during the same period last year.

Meanwhile, according to the report Arab investments increased by 10.2% to reach EGP 5.4bn, While foreign investments fell during the first seven months of this year by 10.5% to reach EGP 5.707bn, compared to EGP 6.376bn during the same period last year.

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https://dailyfeed.dailynewsegypt.com/2018/08/25/13000-companies-established-within-7-months-an-increase-of-12-gafi/
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