Egypt sees 11.3% YoY growth in number of newly established firms in 9 months

Updated 11/12/2023 10:17:00 AM
Egypt sees 11.3% YoY growth in number of newly established firms in 9 months

Arab Finance: Egypt witnessed an 11.30% year-on-year (YoY) growth the total number of newly established firms during the first nine months of 2023, according to a report by the Ministry of Trade and Industry.

This brings the total number of companies to 24,903 in the January-September period, compared to 22,374 during the same period in 2022.

On the other hand, the total value of capital flows decreased by 51.16% YoY to reach $4.876 billion during the first nine months of 2023, compared to $9.984 billion during the same period last year.

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