Fountain Set Limited to Invest $100 Million in Egypt

Fountain Set Limited, a major fabric manufacturer from Mainland China, has announced plans to establish a new textile industrial park in Egypt as part of its global expansion.

Key Investment Details

• Total Investment: Approximately $100 million.
• Job Creation: Expected to create 1,500 direct jobs.
• Facility Size: The plant will cover roughly 200,000 square meters.
• Strategic Location: The company chose Egypt to leverage its position as a hub connecting African and European markets.

Egypt’s Textile Strategy

The announcement was made during a meeting with Hossam Heiba, CEO of Egypt’s General Authority for Investment and Free Zones (GAFI). He highlighted that:

• The Egyptian textile market is valued at approximately $3.07 billion.
• Egypt has invested over $4 billion to upgrade state-owned factories with advanced European equipment.
• The government offers flexible investment frameworks, including Free Zones and the Suez Canal Economic Zone, providing various tax incentives and ownership options.
• The Mahalla Al-Kubra region, known for its mature industrial base, will be a key area for integrating new investments into the existing supply chain to boost exports.

***Photo Reference:https://www.wamda.com/2015/08/shahbander-weaves-online-network-for-egyptian-textile-makers***