Minister of Trade, Ahmed Samir, met with a delegation from the Turkish company Eskafi yesterday to discuss the company’s potential investments in Egypt's leather and gelatin production sector.
The minister highlighted the trade ministry’s commitment in supporting both local and foreign investments operating in the Egyptian market, according to a statement about the meeting.
The meeting highlighted the unique investment opportunities and advantageous conditions available in Egypt's leather sector.
During the meeting, Samir highlighted the state's dedication to elevating the leather industry and positioning Egypt as a strategic center for leather production at the local, regional, and international levels.
The ministry’s ultimate goal is to create high-quality products that can effectively compete in both domestic and foreign markets, he said, which can be achieved by enhancing integration across the value chains of the Egyptian leather industry.
Eskafi is currently considering substantial investments in the local market, Samir revealed, including possibly establishing a factory for food gelatin production and manufacturing other materials derived from leather with investments worth $40 million.
The company will rehabilitate and operate three production units within the Robbiki Leather City, with investments totaling $6 million.
The delegation stated that their proposed projects in Egypt would contribute to meeting the local market's demand for various leather-derived products, as well as serving as an avenue for exports to foreign markets.
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