Over 2,000 companies formed, expanded in November

CAIRO – 20 December 2017: The number of companies established or expanded in November stood at 2,155 companies, compared to 1,462 firms in November 2016, the monthly report from the Ministry of Investment showed on Wednesday.

The capital of companies valued at LE 3.9 billion compared to LE 1.6 billion in the same month last year.

Divided by sectors, the report stated that around 855 of the companies were in the services sector, 611 companies in the industrial sector, 101 companies in the construction sector, 85 firms in the information technology domain, 51 companies in the agriculture sector, and 27 companies in the tourism sector.

Offering unprecedented guarantees and incentives to investors, the House of Representatives has approved in early May the long-awaited new investment law, which is expected to facilitate business procedures and accelerates arbitration of business disputes.

As a first step in the application of the new investment law, the Investors Service Center was launched in June to allow establishing companies online.