Last Update 12:13
Tuesday, 12 November 2019

Egypt sees $17m injected in new enterprises, creating 1,536 jobs

Total capital injected in new enterprises reached LE103 million ($17.1 million) last week, with 94 per cent coming from Egyptian investors

Ahram Online, Saturday 19 Nov 2011
Egyptian companies
Another wave of companies created in Egypt (Photo: Reuters)
Views: 1877
Views: 1877

Egypt saw 119 new companies established in the week ending 17 November, creating around 1,536 jobs, according to data from the General Authority for Investment.

Total capital injected reached LE103 million ($17.1 million), with 94 per cent coming from Egyptian investors and the rest divided between Arabs and non-Arab foreigners.

The number of new companies dropped below the previous week, which saw 161 one new companies. Injected capital dropped 50 per cent from $201 million in the week ending 10 November.

Around a third of the new firms were in the services sector, with manufacturing and nebulous 'varied activities' also making up large portions.

The Alexandria governorate saw the largest number of businesses established, with around LE15.1 million ($2.5mn) in capital injected in new enterprises during the week. Sohag and Minya, both Upper Egypt governorates, also saw significant activity.

As for jobs created, it is estimated that 32 per cent are administrative, 37 per cent crafts and 14 per cent engineering.

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.