New investments have increased by 20.8 percent in January 2018 to stand at 5.2 billion Egyptian pounds, the Investment and International Cooperation Ministry said.
The number of newly established firms in Egypt amounted to about 1780 companies last month, with a rise of 9.3% from 1,628 firms in the same period a year earlier according to In the monthly bulletin.
The companies’ issued capital jumped by 62.3% year-on-year to 4.2 billion pounds in the first month of 2018, while paid-up capital increased by 56.7% to 1.08 billion pounds, the ministry said.
The private sector’s investments leapfrogged 15.2 percent in the first quarter of 2017-2018 FY to stand at 78.1 billion pounds, the ministry said.
The consumer services sector topped the business of established firms by 55.8% last year, followed by the industrial, agricultural, telecommunications, construction and engineering, and tourism sectors.
The newly established firms are likely to provide about 7,000 jobs, according to the bulletin.
In January, total trades on the Egyptian Exchange (EGX) stood at about 31.6 billion pounds, as Egyptian investors made up 70% of total trades, while non-Arab and Arab investors accounted for 20.5% and 9.5%, respectively.