Egypt is ready to welcome new industrial investment, CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba said on Tuesday, as the country holds talks with Chinese firm Fountain Set Limited to establish a $100 million textile complex.
Heiba met the company delegation, a global leader in fabric manufacturing, alongside representatives of Elegance Apparel Garments Freezone in Shebin El-Kom. Fountain Set plans a 200,000-sqm spinning and weaving facility under either a free-zone or special economic zone model, creating around 1,500 direct jobs and serving as a regional hub for fabric production and exports to Europe and Africa.
Plans were also discussed to expand Elegance Apparel Garments’ capacity in Shebin El-Kom. Heiba noted that Egypt has invested over $4 billion to modernise state-owned factories with European equipment, offering flexible ownership, lease and usufruct models to attract private investors.
He stressed that Egypt’s variety of investment frameworks — including general and private free zones and special economic zones — allows investors to select the optimal system for their projects. He also highlighted potential industrial integration with existing textile companies in El-Mahalla City, boosting production and exports.
Heiba said the textile sector is a national priority for its role in raising exports, creating jobs and deepening domestic manufacturing. Chinese investors expressed strong interest in Egypt’s investment climate and aim to begin implementation soon.
