Minister of Investment and Foreign Trade Mohamed Farid affirmed on Thursday that Egypt possesses the competitive advantages and industrial capabilities that qualify it to become a leading regional hub for integrated textile manufacturing.
He also stressed the government’s commitment to providing a robust and flexible investment environment capable of accommodating major global industrial city projects.
The remarks came during a meeting the minister held with senior executives of the Chinese company Cloud Chain, a leading industrial developer specialising in the establishment and operation of integrated industrial cities.
The meeting discussed steps to implement the “Egyptian Textile Industries City – Cloud Chain” project in Port Said Governorate, which is set to become the first integrated carbon-neutral textile industrial city in the Middle East and North Africa.
For his part, Minister Farid highlighted that Egypt continues to implement a comprehensive strategy aimed at attracting foreign direct investment, increasing the inflow of quality capital, and localising value-added industries.
He further emphasised ongoing efforts to enhance the business environment and improve Egypt’s global competitiveness as an investment destination.
During the meeting, Cloud Chain presented its master plan for the project, which covers a total area of approximately 4.5 million square metres to be developed in two phases over 24 months each.
The project is designed as a fully integrated industrial ecosystem based on sustainability standards and environmentally friendly practices.
The two sides also discussed investment frameworks available in Egypt, particularly investment zones and Special Investment Zones, in order to identify the most suitable regulatory structure for the project.
In this respect, Minister Farid directed that an urgent field visit be organised for the Chinese delegation to several investment zones to review infrastructure readiness and investment opportunities.
He also instructed the ministry’s promotion departments to finalise technical discussions with the company and coordinate closely with the Egyptian Commercial Representation Office in China to support technical evaluations and project preparation.
According to the company, the first phase will cover two million square metres and attract 30 to 50 textile companies, alongside service facilities including vocational schools, logistics centres and commercial areas.
The second phase will develop an additional 2.5 million square metres to complete the integrated industrial chain.
Total investments are estimated at between $1.5 billion and $2 billion, expected to generate up to 80,000 direct jobs and around 60,000 indirect employment opportunities, reinforcing Egypt’s position as a key regional industrial and logistics hub.
