Cairo – Mubasher: The Egyptian Internal Trade Development Authority (ITDA) is in talks with some Greek investors and firms who evinced interest in the ready-made clothing industry in Egypt over establishing a semi-wholesale market in the country, the chairman of ITDA said.
The market is set to be built over 100 acres at an estimated cost of $100 million, state-run news agency MENA reported, citing Ibrahim Ashmawy.
Some of the Greek companies seek to pump investments into a number of development and commercial projects in the New Valley governorate, Ashmawy indicated.
Egypt plans to offer a slew of investment opportunities in trade and other sectors next month in the governorates of South Sinai, the Red Sea, and Suez, in addition to Upper Egypt, he added.
It is worth noting that Egypt’s exports of ready-made clothing increased by 8% in the first 10 months of 2018, recording $1.306 billion, versus $1.207 billion in the corresponding period of 2017.
