Cairo – Mubasher: Egypt’s Ministry of Investment and International Cooperation on Wednesday revealed that 2,172 companies with total investments worth EGP 6.3 billion have been established and expanded in February.
The ministry said that 2,059 new companies have been set up last month with EGP 4.6 billion in investments, up 61% from the same month last year, according to a statement.
Additionally, 113 companies have been expanded with EGP 1.7 billion in investments, the ministry noted.
Almost 735 firms were founded under the internal investment system at a value of EGP 1.6 billion, accounting for 36% of total investments’ value, the ministry said.
Meanwhile, four firms were established at a value of EGP 40 million at the free zones, making up 1% of total investments, it added.
Moreover, around 1,320 firms were set up in accordance with the corporate act at a total value of EGP 2.9 billion, making up 63% of total investments.
The services sector companies have topped investments with EGP 2.3 billion, followed by the industrial sector with EGP 839 million, the ministry noted.
Cairo has seen the highest number of investments at a value of EGP 2.4 billion, followed by Giza with EGP 1.6 billion in investments.
