Turkish Vestel, Zorlu to build $70mln home appliances plant in Egypt

Turkish home appliances manufacturing companies Vestel and Zorlu are planning to establish a home appliances factory in Egypt with over $70 million investment for the first phase, according to Egyptian Ministry of Trade and Industry on Saturday.

Ahmed Samir, the Minister of Trade and Industry stressed on the Egyptian government’s desire to provide all aspects of support to Turkish companies operating in the country.

The announcement came after Samir’s meeting with officials from the two companies as well as other Turkish entities on Saturday as he concluded his multi-day visit to Ankara.

It is worth mentioning that Türkiye’s state-owned bank Ziraat Bank is considering opening a representative office in Egypt, setting the stage to establish a branch in the country in coordination with the Central Bank of Egypt (CBE).

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