Turkish Clothes & Textiles Companies Will Open New Factories in Egypt

Turkish ready-made clothes and textiles companies are set to establish new factories and stores in Egypt, as per a meeting held between Turkish business executives and Egyptian Minister of Trade and Industry, Ahmed Samir.

During the meeting, Samir presented 152 business opportunities for Turkish firms in Egypt, highlighting potential investment incentives such as tax breaks of up to 10 years. LC Waikiki, a prominent Turkish clothing company, revealed plans to increase its store count in Egypt from 38 to 100 within five years.

Eroğlu, another key player in the Turkish clothing industry, unveiled plans to invest USD 300 million in a polyester and nylon textile factory in Egypt. The company also aims to initiate a project for the production of polyester granules.