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Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib reviewed Sri Lanka-based Brandix’s plans to expand in the Egyptian ready-made garment industry, according to a statement.
In his meeting with Ashroff Omar, CEO of Brandix, the minister affirmed the government's commitment to developing the ready-made garment industry locally by leveraging Egyptian cotton.
The state plans to transfer expertise and advanced technologies to boost the industry's efficiency and competitiveness in international markets.
Moreover, the government is working to fully facilitate the investor journey, including expediting customs clearance procedures, which have contributed to reducing customs clearance time from 16 days to 5.8 days, with a target of reaching just two days.
The minister also asserted that the government secures the necessary land for projects in both free zones and industrial areas, providing the infrastructure needed to expand industrial activity.
Touching upon Egypt's significant investment advantages, El-Khatib addresses the country’s large market and access to numerous regional and global markets, thanks to a network of free trade and preferential agreements signed with many countries and regional and international economic blocs.
Egypt serves as a regional gateway to Africa, the Middle East, and the Gulf region, the minister highlighted.
The meeting reviewed Brandix's experience in the global supply chain, as it runs its business in Sri Lanka and Jordan and exports to the American market.
Brandix's project in Egypt is expected to create 2,000 job opportunities initially, with plans to gradually increase the number of workers in line with production expansion.
