8,258 new companies launched in Egypt in four months – CAMPAS

The number of companies established in Egypt during the first four months of the year rose 10.7 percent to 8,258 from 7,374 during last year, according to a report.

In April, there are 1,953 companies launched in Egypt against 1,752 during the same month in 2018, marking a 11.5 percent growth, the state-run statistics agency CAMPAS said in its bulletin on Monday.

“The companies’ capitals are valued at around 4.413 billion Egyptian pounds ($264 billion) last April,” the report showed.

Egyptians captured 86.9 percent of the companies’ capital flows to register around 3.835 billion in April, followed by Arabs, who seized 10.1 percent of the capital to 443.6 million.

Non-Arab foreigners captured 3 percent of the companies’ capital to reach 134.5 million pounds last April.

There are about 943 companies operating in services activities, while around 459 more are focusing on industrial sector, the agency said. There are also around 275 companies working in the construction sector.

There are around 148 companies operating in communication technologies, while about 76 more working in the agriculture. There are around 51 companies focusing on the tourism sector.