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Turkish textile industry continues to migrate to Egypt

Turkish textile industry continues to migrate to Egypt Textile manufacturers in Anatolia, not only giant textile companies, are also moving to Egypt due to cheaper costs, June 26, 2024. (AA Photo)
By Newsroom
Jun 26, 2024 4:34 PM

The Turkish textile sector continues to migrate to Egypt. Not only giant companies but also textile manufacturers in Anatolia are moving to Egypt due to cheap costs. According to reports, many factors such as electricity, labor, natural gas, land, cotton are very, very cheap in Egypt.

According to Kerim Ulker, a writer for Dunya newspaper, companies from Anatolia are increasingly investing in Egypt, a favored destination for Türkiye’s major textile manufacturers such as Eroglu, Yesim Tekstil, and Iskefe Holding.

Ahmed Samir, the Egyptian Minister of Industry, announced that they are in discussions with the Kahramanmaras-based Sirikcioglu Group, which plans to invest $700 million.

One of Anatolia’s largest textile companies is joining other manufacturers as well who are attracted to Egypt due to its incentives, energy costs, and labor wages. Ulker reports that Sirikcioglu Holding, based in Kahramanmaras, will make a significant investment in Port Said, Egypt’s gateway to the world.

Last Updated:  Jun 26, 2024 4:34 PM