The Egyptian General Association of Investment and Free Regions announced today that 292 new companies were established over the past two weeks, 161 last week and 131 the week before, indicating that roughly 32 new companies are incorporated each day. The new companies will purportedly create 2,025 job opportunities – 54.1 percent for men, 7.9 percent for women and 38 percent for either gender – according to a statement from the Association obtained by Youm7. The Association claims that 555 jobs, or 28 percent, will be in the management field and 2 percent of the jobs created will be in the agricultural sector. The engineering sector will take 8 percent, or 171, of the new jobs; the medical sector will add 64 new jobs; the tourism sector will add 113 jobs; and the artisan sector will obtain 1,079 new jobs, a 53 percent share of new job opportunities. Of the new companies created, 21 are industrial, 9 are tourism-related, 55 are in the services sector, 3 are in the IT sector and 67 are cross-sectional. Forty-one of the new companies will be shareholder-held, 50 will be Limited Liability Companies (LLCs) and 38 will be individual enterprises. The total capital of all newly created companies this week is 187 million EGP (U.S. $31.3 million). The total capital load of the companies created last week is 132 million EGP (U.S. $22.1 million), according to the statement released by the Association.
