Cairo – Mubasher: Around 57,000 companies were established in Egypt from January 2017 until September 2019, the Egyptian Cabinet’s spokesperson Nader Saad stated on Tuesday.

The total issued capital of these companies reached EGP 156 billion, while their issued capital amounted to EGP 18.6 billion, Saad added.

The services sector accounted for 40% of the new companies, while the remainder of these companies divided among the industrial, telecom, information technology, and agriculture sectors.

From the beginning of 2017 until the end of September 2019, a number of 7,000 companies expanded with total investments of EGP 189.4 billion.