Egypt aims to attract $1B Turkish investments within 18 months
Updated 7/7/2024 8:39:00 AM
Arab Finance: Egypt is looking forward to attracting new investments totaling $1 billion from Türkiye within the coming 18 months, a government official told Asharq Business.
These investments will cover various sectors, topped by ready-made garments, home appliances, and electronics, the official highlighted.
The government is targeting increasing the volume of trade exchange between Cairo and Ankara by 15% within two years to reach $7.2 billion from $6.3 billion in end-2023, he added.
It is worth noting that the total Turkish investments in Egypt have exceeded $3 billion via 1,700 firms operating in Egypt, according to the latest data by the Ministry of Trade and Industry.
On June 13th, it was announced that the Turkish ready-made garments firm Sirikcioglu would establish a jeans manufacturing factory on a 100,000-square-meter area in Port Said, with investments of $700 million.
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