CAIRO: The General Authority for Investment and Free Zones announced the establishment of 146 new companies and will be providing 1,529 jobs. The average of companies opening reached 29 companies daily during the past week. Another 138 companies established the week previous. The authority issued a statement reporting new companies total capital reached 239 million EGP (U.S. $40 million) last week, divided between the Egyptian capital by 86.5 percent, Arab capital by 4.9 percent and foreign capital by 8.5 percent. Meanwhile, the other 138 companies total capital reached 1.253 billion EGP (U.S. $210.2 million). Last week's new companies were distributed between sectors; 25 companies for the industrial sector, six for the agricultural sector, four for the tourism sector, 53 for the services sector, seven for the communication and information technology sector and one in the construction sector. New companies are established in the governorates of Cairo, Giza, Qaliubiya, Alexandria, Assiut, Garbyia, Dakahlia, Red Sea, Boheira, Fayoum, Sohag and Qena.
