Fashion
Egypt in talks with Chinese fabric manufacturer to set up $100-mn unit
Heiba also met representatives of Elegance Apparel Garments Free Zone in Shebin El-Kom, with discussions focussed on the facility’s expansion.
Egypt is keen to attract new industrial investment, according to General Authority for Investment and Free Zones CEO Hossam Heiba, who recently held talks with Chinese fabric manufacturer Fountain Set Limited to set up a $100-million textile complex.
Heiba also met representatives of Elegance Apparel Garments Free Zone in Shebin El-Kom, with discussions focussed on the facility’s expansion.
Fountain Set plans a 200,000-sqm spinning and weaving facility under either a free-zone or special economic zone model, creating around 1,500 direct jobs and serving as a regional hub for fabric production and exports to Europe and Africa, according to the country’s state information service.
Egypt has invested over $4 billion to modernise state-owned factories with European equipment, offering flexible ownership, lease and usufruct models to attract private investors, Heiba said.
He stressed that Egypt’s variety of investment frameworks—including general and private free zones and special economic zones—allows investors to select the optimal system for their projects. He also highlighted potential industrial integration with existing textile companies in El-Mahalla City, boosting production and exports.
Fibre2Fashion News Desk (DS)