Foreign investments in Egypt hit $6.8b in FY2015-16: Ministry

The net volume of foreign investments in Egypt rose by 7.2 percent in financial year 2015-16 to US$6.84 billion versus US$6.38 billion a year earlier, Egypt’s Investment Ministry announced Saturday. This increase reflects investors’ trust in the Egyptian market, the ministry added.

The number of the newly-formed companies in January-November 2016 reached around 11,595 with issued capitals estimated at around 45.2 billion pounds opposed to 10,449 firms with issued capitals worth 17.7 billion pounds in January-November 2015.

According to the ministry, the number of firms whose capitals witnessed an increase during the first eleven months of 2016 recorded around 1,746 with capitals estimated at 47 billion pounds compared to 1,414 firms whose issued capitals recorded 44.7 billion pounds at the same period of 2015.