New companies rise 15% in June -GAFI

The number of new companies that were set up in Egypt in June rose 15% y-o-y to 1,672, General Authority for Freezones and Investment (GAFI) statistics showed. According to GAFI, just less than half of the new companies operate in service industries, while 26% of the companies are manufacturers, 14% are in construction, and 6% are tech ventures.