In October, around 663 new companies have been created in Egypt, totalling EGP 699.4 million in issued capitals, a recent report by the investment authority stated.
This comes in comparison with 554 companies created in Egypt during September 2013.
According to the Egyptian General Authority for Investment (GAFI)’s latest report, the Financial Services excluding Banks Sector allured highest number of investors during October.
Around 274 companies for financial services were established in October.
The Industrial sector ranked second, with total number of companies founded in October amounting to 175. Coming third, the Construction and Building Materials sector witnessed the launch of 102 new companies during the month.
Fourthly, around 41 new companies founded in October were in sector of Telecommunications and Information Technology.
At the bottom of the list, the Tourism sector reported the inception of 29 new companies in September.
Sharqia governorate witnessed the inception of 13 new companies, the highest during October. Sohag and Beni Suef governorates both came in the second position, registering 12 new companies established in one month. Ranked third, Cairo recorded a number of new companies of 11.