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Tuesday, May 28, 2024

Chinese delegation keen to set up an integrated textile city

A delegation from the Chinese Council for Textiles and Readymade Garments that recently visited Cairo expressed interest in setting up an integrated textile city in Egypt.

The interest was conveyed during a meeting with Hossam Heiba, chief executive officer of Egypt’s General Authority for Investment and Free Zones (GAFI).

The proposed $300-million textile city would cover all stages of the industry.

Heiba emphasised Egypt’s commitment to attracting more Chinese companies, particularly in the textile sector, acknowledging the sector’s importance for economic growth and development, according to Egyptian media reports.

He showcased potential sites like Damietta, Sadat and New Alamein, where the government plans to establish new free and industrial zones to encourage direct foreign investment.

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