The General Authority for Investment (GAFI) announced that the number of new companies established in March reached up to 1741 companies with a total investments of EGP 3.6 billion.
The periodic report on the establishments of new companies issued by GAFI showed that a total 1048 companies (60.2%) established in accordance with Law No. 8 of 1997 were ranked first, while a total 693 companies (39.8 %) established pursuant to the provisions of Law No. 159 of 1981 came second. The capital of such companies is divided into an Egyptian capital of approximately EGP 3.2 billion accounting for 89.4% of the total capital, an Arab capital of about EGP 294 million making up 8.1% of the total capital, and a foreign capital of nearly EGP 89 million representing 2.5% of the total capital.
According to the sectoral distribution, the number of industrial companies reached up to 596 ones accounting for 34.2% of the total new companies, followed by 563 companies with multidisciplinary activities (32.3%), 420 service companies (24.1%), 72 construction companies (4.1%), 53 companies in the field of communication and information technology (3%), 24 agricultural companies (1.4%) and 12 tourism companies (0.7%).
1715 companies, representing 98.5% of the total companies established in March with a capital of EGP 3.6 billion, operate nationwide. On the other hand, 26 companies (1.5%) worth EGP 10 million operate in specific territories, including 8 companies (30.8%) in upper Egypt and south Valley with a capital of EGP 2.4 million, followed by 2 companies (7.7%) worth EGP 5.1 million in the East Delta, 6 companies (23.1%) in the Greater Cairo totaling EGP 600.000, 4 companies in the Suez Canal zone and Sinai Peninsula (15.4%) with a capital of EGP 900.000, and 6 other companies (23.1%) worth EGP 1.3 million in the West Delta.