2823 New Firms Established in Egypt in 4 Months – GAFI

2823 new companies have been established in Egypt since the beginning of the fiscal year 2014/15 till end of last October, said head of the country’s investment authority GAFI.

Hassan Fahmy – Chairman of Egyptian General Authority for Investment (GAFI) – stated that the newly-established firms were with investments totalling 4.7 billion Egyptian pounds (US$657.1 million).

The Egyptian official further pointed out that the GAFI is targeting a total volume of new investments amounting to US$10 billion within the current fiscal year 2014/2015.