Investments have increased by 20.8% to reach EGP 5.2 bn last month in Egypt, according to a monthly report published by the Ministry of Investment and International Cooperation.

In the report, the ministry revealed that the volume of investments during the first quarter of FY2017/18 leapfrogged by 53.1% to stand at EGP 150 bn compared to the same quarter in the previous fiscal year.

Likewise, private investments hiked by 15.2% in Q1 of 2017/2018 FY to become EGP 78.1 bn.

The number of companies that have been founded and expanded in January 2018 reached 1,780 against 1,628 companies in January 2017.

The 1,593 newly created companies are expected to provide around 7,000 job opportunities.