150 million dollars.. «Jaid Textile» investments in Egypt
The company aims to increase the volume of its investments in the Egyptian market by $70 million in spinning activity, to exceed $220 million in the textile industry.
Shrouq
Jade Textile plans to expand in the Egyptian market to take advantage of the legislative and executive reforms undertaken by the Egyptian government.
The company seeks to provide all aspects of support and support for new investments in the textile and ready-made garments sector, as it is a labor-intensive sector that provides a large number of jobs.
This important sector also enjoys competitive advantages from the availability of local production inputs and trained labor, in addition to huge export capabilities to a large number of regional and global markets and blocs, which have free trade agreements with Egypt that grant Egyptian products preferential treatment.
$150 million investment
Counselor Mohamed Abdel-Wahhab, CEO of the General Authority for Investment and Free Zones, explained that the company's investments in the Egyptian market amount to about $150 million distributed over five ready-made garment factories, which manufacture the most important international brands through strategic partnerships, and that the company has been able, thanks to its work Under the umbrella of the free zones system, it is able to export all of its production at a value of $180 million annually.
220 million dollars in the textile industry
Selim Shankaya, CEO of Jade Textile, announced that the company aims to increase the volume of its investments in the Egyptian market by $70 million in spinning activity, to exceed $220 million in the textile industry.
The number of job opportunities provided by the company rises to 12,000 direct job opportunities, in addition to indirect opportunities, as the company seeks, through its new investments, to increase the percentage of the local component to 95%, with the aim of supporting the Egyptian state's efforts to achieve economic development and environmental sustainability.
Yesterday, Jade Textile Egypt participated in the sixth session of the “Destination Africa 2022” exhibition, which was held in cooperation between the Export Council for Ready-made Garments, the Export Council for Spinning, Textiles and Home Furnishings, and the Egyptian Exporters Association “Expolink”.
