1263 New Companies Created in Egypt in Two Months – GAFI Head

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Over 1.263 have been created in the past two months in Egypt, totaling EGP 2.1 billion in investments

1263 new companies have been established in Egypt during months of July and August, head of Egyptian General Authority for Investment (GAFI) Hassan Fahmy said on Tuesday.

According to the Egyptian official, the issued capitals of the new companies have totalled EGP 2.1 billion.

In July, there were around 544 new companies founded in Egypt, with total issued capitals of EGP 741 million. While, during August, Egypt witnessed the inception of 719 new companies, with total issued capitals worth EGP 1.402 billion.