Ministry of Investment and International Cooperation has announced the launch of two new companies at an issued capital of EGP 400 mn between January 3 and 9, including a new real estate company named Tharwa for Real Estate Development, Invest-Gate reports.

The real estate developer Tharwa was founded at a value of EGP 300 mn, in accordance with the investment law no. 72 of 2017 and joint stock companies’ legislation, the ministry stated on January 14.

The ministry further announced the launch of Goya Foods for nutrition industry at EGP 100 mn, according to the official statement.

This announcement came along with a decision to increase the capital of four companies at a total value of EGP 1 bn, coming in line with the ministry’s efforts to stimulate more investments and develop the Egyptian business sector.