Egypt Eyes US$ 100 Million Textile Investment With Chinese Firm Fountain Set
Egypt is opening its doors to new industrial investment, with plans underway for a US$ 100 million textile complex in partnership with Chinese fabric manufacturer Fountain Set Limited, according to Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI).
Heiba met the Fountain Set delegation, along with representatives from Elegance Apparel Garments Freezone in Shebin El-Kom, to discuss the project. The proposed 200,000-square-metre spinning and weaving facility will operate under either a free-zone or special economic zone model, creating an estimated 1,500 direct jobs. The plant is expected to serve as a regional hub, exporting fabrics to Europe and Africa.
Discussions also covered plans to expand capacity at Elegance Apparel Garments’ Shebin El-Kom facility. Heiba highlighted Egypt’s significant investment of over US$ 4 billion to modernize state-owned factories with European machinery, offering flexible investment models including ownership, lease, and usufruct options to attract private investors.
He emphasized the advantages of Egypt’s diverse investment frameworks, including general and private free zones and special economic zones, allowing companies to select the most suitable model. He also noted opportunities for industrial integration with existing textile firms in El-Mahalla City, which could further boost production and exports.
