New 250 companies established this week: GAFI

CAIRO – 28 April 2017: The General Authority for Investment and Free Zones (GAFI) has established new 250 companies worth EGP 221.2 million ($12 million) with a total issued share capital rate of 50 companies daily, according to a weekly report by GAFI.

The new companies are expected to create 1467 jobs including 554 artificers.
The total Egyptian capital of these companies reached EGP177.5 million while the Arab and foreign capitals amounted to EGP33.3 and EGP10.3 respectively.

The sectors of those companies included; industry, agriculture, tourism, services, constructions and information technology.

Egypt is about to issue a new investment legislative act facilitating the establishment of companies by creating a one-stop shop that will enable investors to establish and register their companies much more quickly.