Chinese coalition expresses interest in establishing $300M textile city in Egypt

CAIRO – 25 April 2024: A Chinese coalition expressed interest in establishing a textile city - where all phases of the manufacturing process would be carried out – in Egypt at a cost of $300 million.

That was during a meeting with Chairman of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba as the Egyptian Exporters Association had organized a visit by a delegation of 20 major Chinese textile firms' representatives headed by Chairman of China National Textile and Apparel Council Lin Yunfeng.

On his side, Heiba suggested that investors would consider locations in Damietta, Sadat City, and Alamain where the government plans to create free industrial zones; also, shedding light on the free trade agreements between Egypt, and each of the European Union, United States, Africa, and Latin America.  

The GAFI chairman similarly highlighted the milestones achieved in the logistics sector by introducing new roads and railway lines as well as enlarging the capacity of seaports.

Earlier this week, Secretary of the Chinese Communist Party at Hebei Province Ni Yuefeng headed a high-profile governmental delegation in a visit to Egypt as a meeting took place with GAFI chairman who presented investment opportunities at the planned free zone in New Alamain.

Secretary Yuefeng expressed his province's interest in investing in the manufacturing of construction materials, chemicals, and electric vehicles. He also invited Heiba to visit Hebei to better identity opportunities of cooperation.