Issued capital slips for new Egyptian firms

Ahram Online, Saturday 4 Jun 2011

Dip of 27 per cent is countered by a steady growth of companies and slight increase in job opportunities

Issued capital for new firms in Egypt slipped 27 per cent this week but company and job creation remained constant, according to data from the General Authority for Investment (GAFI).

A total of 140 new companies were established, creating 2,565 job opportunities and involving issued capital of LE177.15 million. 
The latter was down 27 per cent on last week's LE243 million, although the figure for jobs was actually slightly higher.
84.3 per cent of capital invested was Egyptian; the rest was almost equally divided between non-Egyptian Arabs and other foreigners - 7.6 and 8.1 per cent, respectively.
Of the 140 new firms, 52 are in the services sector, 39 general activities and 23 manufacturing. One new tourism company was also founded.
Short link: