Osama Saleh: Increase the Rate of Establishment Companies

Osama Saleh, Chairman of the General Authority for Investment and Free Zones, announce the increase of the rate of establishment of companies this year 19.5% to the last year, an increase in the total issued capital from last year by about 19%, and job opportunities are expected from the establishment of these companies is estimated at 160 thousand and 415 jobs, with average monthly increase of the founding companies of 520 companies to 622 companies per month, and success in the establishment of 119 companies to date through the electronic system which successfully applicable at “GAFI”.

He said, in a press release issued Saturday, that he discussed with the leaders the increase of the budget specified for training of the employees at the authority to 2.5 million pounds this year compared with 1.7 million pounds last year, in order to raise the skill levels of all workers at the Authority. The chairman of GAFI pointed also to the enhancement of the position of the employees in “companies interest” sector.

He discussed also the most important indicators of the general activity of the Authority, including the service of issuing certificates of export and import, which started in the authority in September 2011, through this service 3274 certificate were issued, and the conversation turned to the level of financial performance of the Authority, which has seen an increase in revenues for last year by 22.3%, and increase the surplus for this year by an estimated 40% from last year, with the total cost of the projects carried out 378 million pounds, in order to develop the assets owned by the Authority and its support to serve the investors.