Cairo – Mubasher: The Ministry of Investment and International Cooperation (MIIC) on Wednesday announced that Egypt’s private investments surged 15.2% year-on-year to EGP 78.1 billion in the first quarter of the fiscal year 2017/2018.

Overall investments hiked 53.1% to EGP 150 billion in Q1 of FY17/18, from EGP 98 billion in the same period of the previous year, according to the MICC’s monthly bulletin.

In December 2017, the total number of both established and expanded companies jumped 58.8% to 2,095, compared to 1,319 at the same period in 2016.