15.4% increase in newly-established firms during June: GAFI

CAIRO - 13 July 2020: The General Authority for Investment and Free Zones (GAFI) saw a 15.4 percent increase in the indicators of establishing companies at its affiliate investors service centers during June to reach 1,672 companies, compared with the same month in 2019 when the numbered of newly-established companies recorded 1,449.

The surge in the number of firms led to a 71.7 increase in the capital of exports of these companies in June to record LE 7.9 billion, against LE 4.6 billion in June 2019, according to a statement issued by GAFI on Monday.

Egyptians’ contributions to the export capital of newly-established companies accounted for 98.8 percent in June 2020, the statement added.