The General Authority for Investment (GAFI) says that 1,741 new companies were established last month with total investments worth EGP 3.6 bn, Invest-Gate reports.

The periodic report published by GAFI shows that the 1,048 companies have been established, in accordance with Law 1997 No. 8.

Meanwhile, 693 companies have been established in terms of Law 1981 No. 159.

The capital of the newly-established companies is divided among Egyptians, Arabs and foreigners, totalling EGP 3.2 bn, EGP 294 bn, EGP 89 mn respectively, according to the report.