New 262 companies established last week: Investment Ministry

CAIRO – 5 May 2017: The General Authority for Investment and Free Zones (GAFI) has established 262 new companies worth 306.8 EGP million ($12 million), with a rate of 50 companies daily, according to a weekly report by Ministry of Investment and International Cooperation.

The new companies are expected to create 1473 jobs including 603 artificers.
The total Egyptian capital of these companies reached 251 million EGP while the Arab and foreign capitals amounted to 464 million EGP and 93 million EGP respectively.

These companies represent the sectors of industry, agriculture and tourism respectively.

Egypt is about to issue a new legislative act with regards to investment which will facilitate the establishment of companies by creating a one-stop shop that will enable investors to establish and register their companies in a more efficient manner.