21,058 new firms launched in Egypt in 2018

The number of firms established in Egypt during 2018 increased 12.7 percent to 21,058 from 18,378 during 2017, said the state-owned statics agency CAMPAS on Tuesday.

Last December, the number of firms rose 16.8 percent to 2,053 against 1,758 during the same month in 2017, CAMPAS announced in its recent bulletin sent to Amwal Al Ghad.

“The firms’ capital reached around 5,567 billion in December,” the report showed.

Egyptians captured 87.9 percent of the firms’ capital to register 4.894 billion Egyptian pounds ($273 billion) last December, while foreigners seized 7.7 percent of the firms’ capital to 427.6 million pounds during the same month.