Egypt newly established firms grow by 11.3% YoY in 9 months

Egypt witnessed an increase of 11.30 percent year-on-year (YoY) in the total number of newly established firms during the first nine months of 2023.

The results came from a report by the Ministry of Trade and Industry on Sunday.

The total number of companies reached 24,903 in the January-September period, up from 22,374 during the same period last year.

The total value of capital flows, however, dropped by 51.16 percent YoY to reach $4.876 billion, going down from $9.984 billion during the same nine months last year.