1,784 companies set up in May at total issued capital of 2.1 bln pounds

As many as 1,784 new companies were incorporated in May 2018, with a 7 percent increase compared to 1,637 companies in May 2017, the Ministry of Investment and International Cooperation said on Thursday.

The total issued capital of the new companies is worth LE 4.3 billion, with a 106 percent increase, compared to  2.1 billion Egyptian pounds in May 2017, the ministry said in its monthly bulletin.

During the first quarter of the fiscal year 2017-2018, the volume of investments raised by 54 percent to reach EGP 184.4 billion, compared to LE 119.9 billion during the first quarter of the fiscal year 2016-2017, the ministry added.

Till May 15, 2018, nearly 552 investment-related dispute cases worth 18.7  billion pounds were settled, the ministry said.