Counselor Mohamed Abdel Wahab, the Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI), met on Tuesday 6/12/2022 with General Manager of JADE Textile Egypt Selim Sankaya on means of expanding the companies’ investments in Egypt.
During the meeting, Abdel Wahab noted that GAFI is keen on extending all types of support to new investments in the textiles and ready-to-wear clothes sectors in view of their high workforce.
He also noted that JADE Textile investments in the Egyptian market hit dlrs 150 million distributed on five factories for ready-to-wear clothes which have already established partnerships with international brands, adding that due to such partnerships the company has been able to export all its products with a total value of dlrs 180 million annually.
During the meeting, Sankaya announced that his company was ready to increase its investments in the Egyptian market to dlrs 70 million in the weaving sector to up its total investments in the weaving and textiles’ industry to dlrs 220 million, noting that job opportunities provided by the company were up to 12,000 in addition to indirect jobs.
Source: State Information Service Egypt