Hossam Heiba, Chairperson of the General Authority for Investment and Free Zones (GAFI), has met with a delegation from Fountain Set Limited, one of China's largest textile manufacturers, alongside representatives from Elegance Apparel Garments Freezone, which operates in the Shebin El-Kom Free Zone. During the meeting, Fountain Set outlined its plans to expand into the Egyptian market through the establishment of a new spinning and weaving complex. The proposed industrial facility will span 200,000 square metres and may operate under either the free zone regime or the special economic zone framework. The project is expected to attract investments of approximately $100m, generate around 1,500 direct jobs, and serve as a key hub for producing and exporting textiles to European and African markets. The discussions also covered the expansion plans of Elegance Apparel Garments Freezone, which aims to increase its production capacity and broaden its operational footprint in Shebin El-Kom. Heiba reaffirmed Egypt's readiness to accommodate new investments, noting that the state has injected more than $4bn into modernising public-sector factories, including the acquisition of advanced European machinery. He emphasised that Egypt offers flexible partnership models for foreign investors—ranging from ownership to leasing and usufruct arrangements—allowing companies to select structures tailored to their needs. He further highlighted the distinctions between Egypt's various investment regimes, including public and private free zones as well as special economic zones such as the Suez Canal Economic Zone. This diversity, he said, enables investors to choose the framework best suited to their project while benefiting from a wide array of incentives and facilitations. According to Heiba, Egypt's strategic geographic position, extensive free trade agreements, and competitive labour market make it an attractive destination for export-oriented textile and garment industries. He also pointed to the strong industrial base in Mahalla El-Kobra, whose advanced textile capabilities offer opportunities for integration with new investments and for maximising the use of existing expertise and equipment. Heiba stressed that the textile industry remains a national priority due to its critical role in boosting exports, deepening local manufacturing, and creating employment. This focus, he noted, reflects the state's commitment to attracting major investments and expanding domestic production capacity. Representatives of Fountain Set and Elegance Apparel expressed their appreciation for Egypt's supportive investment climate and the facilitation measures extended to investors. They affirmed their eagerness to move forward with project implementation and to strengthen cooperation with Egyptian authorities to ensure swift progress on their expansion plans.
