Investment Min: LE 6.8B investments in Oct 2017

CAIRO - 10 November 2017: Ministry of Investment and International Cooperation, announced on Friday that investments in October reached LE 6.8 billion ($385 million), with 185.9 percent increase from September, the ministry said in its monthly press release.

About,2456 new companies were established, whereby 256 included expansions, in total that would be2812 ; yielding to 119.9 percent increase since September.
The ministry said that these newly established companies in October provided 10.9 thousand work opportunities, comparing to 4.4 thousand were provided in September, the ministry added.

The net foreign direct investment increased through Q4 of year 2016-2017 with 29 percent to reach $1.05 billion, comparing to 14.5 percent same period pervious year 2016-2015.


General Authority for Investment - File Photo

Concerning facilitating the investment’s environment in Egypt, the Prime Minister Hesham Ismail issued in October the New Investment Law, which stipulates the establishment of an investor’s service centre that will act as a one-stop shop for issuing all required licenses, under supervision of the newly created General Authority for Investment and Free Zones (GAFI), which approved creating 3 investment zones in Cairo, 6 October city and Qaliubya.


Minister on Investiment Sahar Nasr opens Uber's first Centre of Excellence (CoE) in the Middle East and North Africa (MENA) region in Cairo - Oct 2017 - File Photo

Car transportation mobile-based application Uber is looking forward to expanding their services in Egypt, general manager of Uber Egypt Abdel Latif Waked said Monday.

In a meeting with Minister of Investment and International Cooperation Sahar Nasr, on the sidelines of their participation in the World Youth Forum, Waked said Uber’s desire comes after it successfully opened its first Centre of Excellence (CoE) in the Middle East and North Africa (MENA) region in Cairo in October, with $20 million in investments over 5 years.


Nasr launches Women’s Economic Empowerment Forum in the Middle East and North Africa - Oct 2017

In October also, Nasr launched Women’s Economic Empowerment Forum in the Middle East and North Africa, under the title “Bridging the Gender gap to Promote Competitiveness” organized by Organization for Economic Co-operation and Development (OECD).