Recently published statistics of the General Authority for Foreign Investment (GAFI) reveal that the number of established capital companies in Egypt stood at 1,376 for the period pf January 2001 through June 2001.
This reflects a 22.6 percent drop compared to the corresponding period of the previous year, when the number of established capital companies reached 1,778.
Furthermore, according to the report, capital issued to these firms declined as well, from 8.8 billion Egyptian pounds ($2 billion) during the first half of 2000, to EP 7.6 billion during the corresponding period of 2001, reflecting a 13 percent fall. –(Mena Report)
© 2001 Mena Report (www.menareport.com )