Egypt Ranked 21st in Establishing Companies and Attracting Capitals

Egypt was ranked No. 21 among 133 countries in the process of establishment of companies and attracting capitals during 2012.

Alaa Omar –Vice President of the General Authority for Investment and Free Zones- said that the sizes of investment expansions with Egyptian and foreign capitals -for the purpose of establishing companies in Egypt in 2012-have rose to 7.7 billion EGP, compared to 5.9 billion EGP for 2011, as the increase achieved reached 25% up.

He said that the reason behind this improvement is the increasing numbers of new companies that were registered by the beginning of this year, as these companies number rose to 1927 company in 2012 versus 1290 in 2011.

Omar added -during the meeting held yesterday between Sixth of October investors’ association and the Union of Egyptian Banks- that the new working capital pumped by these companies in 2012 reached 3.4 billion EGP compared to 2.2 billion EGP in 2011, and most of them were Arab capitals.