Pan-Arab investment helped a surge in new job opportunities in Egypt in the second week of July.
A total of 7,216 new jobs became available with the founding of 138 companies, according to data for last week released by the General Authority for Investment (GAFI).
Issued capital was LE1.2257 billion, almost five times higher than previous weeks, pointing to several larger firms setting up operations with funding from other Arab countries.
Around 35 per cent of the new jobs are in technical positions - carpenters, electricians, plumbers, mechanics - requiring some level of training.
Non-Egyptian Arabs provided 39.5 per cent of funding, around seven times higher than their average participation. The rest was split between Egyptians (60.1 per cent) and other non-Arab foreigners (0.2 per cent).
Of the 138 new firms, 51 are in the services sector, 43 in miscellaneous activities, 22 in manufacturing and 10 in IT and telecommunications.