6,305 new companies launched in Egypt in Q1: CAMPAS

The number of companies established in Egypt during the first quarter of the year rose 9.7 percent to 6,305 from 5,421 firms last year, the state-owned statistics agency CAMPAS said on Wednesday.

Last March, the number of companies increased 4 percent to 2,161 against 2,079 during the same month in 2018, CAMPAS announced in its recent bulletin sent to Amwal Al Ghad.

“The capitals of companies established last March reached around 3.572 billion Egyptian pounds ($207.9 billion), the report showed.

Egyptians captured 85.1 percent of the companies’ capitals to register about 3.041 billion pounds last March, followed by Arabs, who seized 11.4 percent of 406.1 million pounds.

Foreigners captured 3.5 percent of the companies’ capitals to reach 125.4 million pounds last March.

There are around 1,024 companies operating in services activities, while around 552 more are focusing on industrial sector. There are also around 301 companies working in the construction sector, according to the report.

There are around 153 companies operating in Communication technologies, while about 86 more working in the agriculture. There are around 44 companies focusing on the tourism sector.

In 2018, the number of firms launched in the country climbed 12.7 percent to 21,058 versus 18.378 in 2017.