1482 firms set up in May with total investments of LE 1.8B

CAIRO – 03 July 2017: Egypt’s Ministry of Investment announced that 1482 companies were established in May with issued capitals of LE 1.7 billion ($94 million).

Month-on-month, 1124 firms were set up in April with issued capitals of LE 1.4 billion, according to a periodic report.

Moreover, the capitals of 233 current firms were raised in May, with total investments of LE 1.8 billion, including LE 295 million as foreign investments.

The new companies’ paid-up capital reached LE 232 million in May; Egyptian capital accounted for 80 percent, while foreign one represented 20 percent.

The capital of the expanded companies in May amounted to around LE 1.6 billion compared to LE 2.6 billion in April and in comparison to LE 1.5 billion year-on-year.