China has expressed strong interest in establishing a major textile industry center in Egypt, with a proposed investment of $300 million.
A delegation from the Chinese Council for Textiles and Readymade Garments recently met with Hossam Heiba, CEO of Egypt’s General Authority for Investment and Free Zones (GAFI), to discuss the ambitious project.
The proposed integrated textile city would encompass all stages of textile production, from raw materials to finished goods. This comprehensive approach could position Egypt as a significant player in the global textile market.
Heiba, recognizing the textile sector’s potential for propelling economic growth, enthusiastically welcomed the Chinese proposal. He highlighted Egypt’s commitment to attracting Chinese companies, particularly in textiles.
To further entice investment, Heiba presented potential locations for the textile city, including Damietta, Sadat, and New Alamein. These areas are slated for the development of new free and industrial zones, offering attractive incentives for foreign investors.
While details are still emerging, this initial interest from China presents a promising opportunity for Egypt’s textile industry. The potential $300 million investment could significantly boost the sector’s capabilities and create new jobs. The development of an integrated textile city could also attract other international businesses, further strengthening Egypt’s position as a textile hub.
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