Cairo – Mubasher: Investments in Egypt climbed by 20.8% to EGP 5.2 billion in January 2018, according to the investment ministry’s monthly bulletin.
The number of newly established firms in the North African country amounted to about 1780 companies last month, with a rise of 9.3% from 1,628 firms in the same period a year earlier.
The companies' issued capital jumped by 62.3% year-on-year to EGP 4.2 billion in the first month of 2018, while paid-up capital increased by 56.7% to EGP 1.08 billion, the ministry highlighted.
Paid-up capital of firms that witnessed expansions grew by 13.8% in January 2018 to EGP 4.1 billion.
Meanwhile, private investments in the Arab world's most populous country rose by 15.2% year-on-year in the first quarter of fiscal year 2017/2018 to EGP 78.1 billion.
Total investments increased by 53.1% to EGP 150 billion in Q1-17/118, compared to EGP 98 billion in the corresponding period last year.
The consumer services sector topped the business of established firms by 55.8% last year, followed by the industrial, agricultural, telecommunications, construction and engineering, and tourism sectors.
The newly established firms are likely to provide about 7,000 jobs, according to the statement.
In January, total trades on the Egyptian Exchange (EGX) stood at about EGP 31.6 billion, as Egyptian investors made up 70% of total trades, while non-Arab and Arab investors accounted for 20.5% and 9.5%, respectively.
