H. Kong’s Crystal eyes investment in Egypt’s textile sector

Crystal International Group Limited, a Hong Kong-based global textiles and apparel group, is planning to establish a major manufacturing facility in Egypt under the free zone system, according to Egyptian investment officials.

In a meeting with Egypt’s General Authority for Investment and Free Zones (GAFI) CEO Hossam Heiba, the company’s Vice President Daniel Stockdale outlined plans to build a factory on a 1.5 million square metre site.

The project is expected to create 4,000 jobs and localise Crystal Martin’s production technologies in Egypt, with a local content rate of 60–70 per cent.

Heiba said Egypt could become the leading regional hub for textiles and ready-made garments in the Mediterranean within two years, supported by recent investments in free zones across Minya, New Alamein, 10th of Ramadan, Sadat City, and the Suez Canal Economic Zone.

Stockdale confirmed that the company intends to shift a significant share of its operations to Egypt, attracted by both fiscal and non-fiscal incentives, simplified procedures, and an abundant trained workforce.

Production is set to begin within two years, targeting exports to markets covered by Egypt’s trade agreements, particularly the European Union and United States.

He also announced Crystal’s intention to apply for Egypt’s “golden licence” to accelerate construction and operation. The group meets all eligibility criteria, including high labour intensity, technology transfer, training focus, and export orientation.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama