Over 1,000 firms founded, expanded in June: Nasr

CAIRO – 15 July 2017: The number of established and expanded companies in June reached 1,120, with a total value of LE 4.2 billion in issued capital, Minister of International Cooperation and Investment Sahar Nasr said Saturday.

In the ministry’s monthly report, Nasr stated that 960 new companies were founded last month, with LE 2.2 billion in capital, compared to 913 companies in the same month in 2016. Some other 169 firms were expanded, she added.

Divided by sectors, 410 companies are in the services sector, 290 companies in the industrial sector, 110 in agriculture, 49 in communications and 17 in tourism.

Nasr said that these companies would create 4,800 job opportunities.

On another note, Nasr said that LE 19.8 billion was traded in the Egyptian Exchange in June, with market capitalization worth LE 693 billion.

The leasing sector recorded 10 percent growth during this month, with the value of contracts registering LE 10.6 billion, Nasr added.