Establishing, expanding 3 firms in Investors Center for LE 628.5M

Minister of Investment Sahar Nasr announced the foundation of two L.L.C Limited Liability Companies with a capital of LE 228.5 million, adding that a third company raised its capital to LE 400 million all in one day at the investors’ service center.

According to an official statement, the founded companies are Sakhra Company for educational and medical services and CG Foods Egypt, adding that Wady Degla Clubs raised its capital to LE 400 million.

Sahkra Company for educational and medical services is established with a capital of LE 500 million; including only two contributors. The company will work on establishing and managing technical schools and hospitals.

As per CG Foods Egypt, its capital records LE 178.5 million with contributors from the United Arab Emirates and Singapore, which are UAE CG Foods International Limited with 55 percent and Singapore’s CG Foods Global Pte Limited with 45 percent.

CG Foods Egypt will work on the manufacture of foodstuffs and products of flour, pastries and pasta.

On the other hand, Wadi Degla Clubs raised its capital from LE 39 million to LE 400 million, with an increase of LE 361 million, completely paid out from profits.

Nasr affirmed that the ministry is constantly working on developing services in the investor services center to facilitate investors, which contributes to the establishment of new companies, and the current companies to expand their activities and pumping new investments and increasing their capital, stressing the importance of social responsibility.

She also called on young people to establish companies either limited liability company or one-person companies, and start small and medium enterprises, noting that the ministry is supportive of the small investor.

In February, President Abdel Fatah al-Sisi arrived at the headquarters of the Ministry of Investment and International Cooperation to inaugurate two investor centers in 6th of October city in Giza governorate and Gamasa city in northern Delta.

Investors’ Centers provide services to aid in the procedures of establishing a firm, its contract, documentation, licensing and commercial registration.

They also respond to investors’ inquiries about electronic establishment for companies, investment opportunities in different governorates, free zones and settlement measures of investment disputes.

Egypt Today Contribution Time: 30-Aug-2018 12:13 (GMT)
Egypt Today Last Update Time: 30-Aug-2018 12:13 (GMT)