FILE – Abu Bakr al-Gendy, the head of CAPMAS
CAIRO – 26 December 2017: The number of companies established in October stood at 2,445 companies, an increase of 1,519 companies compared to September, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in its monthly bulletin of December.
In September, 935 companies have been established, with total capital of about LE 2.412 billion. Foreigners’ contributions was 2.4 percent, a value of LE 57.3 million. Arabs’ capital, on the other hand, amounted to LE 273.2 million, 11.3 percent of September’s total capital.
The capital of companies established during October amounted to about LE 2.427 billion. Egyptians’ capital stood at LE 2.116 billion, representing 87.2 percent, while that of Arabs amounted to 8.6%, with a value of LE 209.9 million.
The number of companies established in October 2017 increased significantly, as 2,454 companies were found, compared to 1,067 companies in October 2016.
Last week, the Ministry of Investment and International Cooperation showed in its monthly report that the number of companies established or expanded in November stood at 2,155, with a capital value of LE 3.9 billion.
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 accelerate 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.