Arab Finance: Italy-based Oniverse, formerly Calzedonia, plans to establish two factories in Egypt within the framework of the special free zones system, according to a statement.
Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI), met with a delegation from the Italian ready-made garment company and reviewed its plans to export its full output.
Production at the two facilities, scheduled to begin by the end of 2027, will be exported through the company’s global distribution network, which includes nearly 5,500 retail outlets across 59 countries worldwide.
The project is expected to create more than 3,000 direct job opportunities.
The special free zone system is suited for companies seeking to export their entire production, given its commitment to streamlined customs procedures, Awad indicated.
He elaborated that the system facilitates the import of specialized machinery and raw materials while accelerating the export of finished products to international markets.
The CEO affirmed a commitment to providing all necessary support to accelerate construction and operational procedures.
Both sides also discussed granting the company the Golden License for its investments in Egypt.
