Not all bad, though: Egyptian companies absent from Forbes' 20 top companies list
Egyptian companies were absent in the Top 20 Companies in the Arab country list conducted by Forbes Middle East, which included companies from the Kingdom of Saudi Arabia (KSA), Qatar, United Arab Emirates (UAE) and Kuwait.
Forbes Middle East revealed that the criteria considered to rate the top companies included: the companies’ total revenue, net profits, total assets, and market capitalization.
On the Top 500 companies list, however, Egypt placed fourth in terms of number of companies contributed to the list.
The list was topped by companies from KSA with 108 entries, occupying more than one fifth of the list, followed by Kuwait and the UAE.
Classifying the 500 top companies by sector, the list noted that the companies working in the industrial sector dominated the list with 107 companies. The banking sector came in second with 101 companies, and the real estate and construction sector earned the third spot with 56 companies. The services sector took the fourth slot, with 36 companies being voted into the top 500.
Twenty Egyptian industrial companies made the list, making Egypt the second best performing country in the industrial sector. Eight entries represented the country’s banking sector, while only four service sector companies made the cut.
Egyptian companies also made appearances in the financial services, petrochemical, transport and energy, healthcare and tourism sectors lists.
Earlier in April, Egypt captured second place in the World’s Richest Arabs list, compiled by Forbes Middle East, by contributing 15 names. The wealthiest Egyptians named included construction tycoon Nassef Sawiris, business moguls Mohamed Mansour, Naguib Sawris, Onsi Sawiris, Youssef Mansour, Mohamed Al-Fyaed and Yassen Mansour.
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