In Week, 204 New Firms incorporated in Egypt – Report

204 new firms with total capitals EGP 187.9 million (US$24.6 million) were launched in Egypt, according to the Egyptian investment authority’s weekly report.

This comes in comparison with 195 firms incorporated a week earlier in Egypt.

The Egyptian General Authority for Investment (GAFI)’s latest weekly report stated that local investments accounted for 93% in the total number of newly-established firms with capitals reached EGP 174.7 million.

In addition, the Arab investments represented 5.2% with capitals estimated at EGP 9.8 million; whereas the foreign investments valued at 1.8% with EGP 3.335 million capitals, the report revealed.

In one week, Cairo governorate witnessing the highest number of the newly-established firms, reporting 165.

Coming second, Alexandria recorded the inception of 17 new firms last week.  Assiut was third with 13 firms incepted, and then comes the Tenth of Ramadan with 5 companies and Ismailia with 4 companies.

The newly-established firms were in sectors varied between 93 for multi-activities, 69 for services, 27 for industrial, 8 for construction, 4 for telecommunications, one working in tourism and another in agriculture.