Yazaki to establish factory in Fayoum with €30M investments

CAIRO - 24 July 2023: Yazaki signed a land allocation contract with Governor of Fayoum Essam Saad Ibrahim, in the presence of Minister of Local Development Hisham Amna, to build the first fully foreign factory in Fayoum’s first free investment zone.

The factory will be built on an area of ​​70,000 square meters in the Kamal facility area of ​​the Fayoum Center, at a total cost of €30 million, and will provide almost 3500 direct and indirect job opportunities.

The signing of the contract between Fayoum Governorate and Yazaki comes within the framework of Egypt's efforts to promote all promising investment opportunities in the Fayoum Governorate, open new areas of investment, and advance the economy.

The Minister of Local Development said that the projects of the investment plan for Fayoum Governorate amounted to about LE 600 million in the last fiscal year.

He added that the factory to be established in Fayoum will be sustainable, environmentally-friendly, and the first of five other Yazaki factories in Egypt.

Yazaki was granted a golden license for this project by the Egyptian Cabinet in December 2022. The golden license is a comprehensive approval on the set up, operation, and management of a project, including building licenses of such project and the allocation of the real property required.