Latest news with #MohamedAbdelSalam
Fibre2Fashion
14-05-2025
- Business
- Fibre2Fashion
Egypt sees significant growth in textile-garment sector: Trade body
Egypt's textile and garment sector is witnessing significant growth, backed by global economic shifts, a favourable investment climate and a surge in foreign direct investment (FDI), according to Mohamed Abdel Salam, chairperson of the Readymade Garments and Textiles Chamber at the Federation of Egyptian Industries. Recent studies highlight key advantages: electricity costs average $0.07/kWh in the country compared to $0.12 in many other markets. Water prices range between $0.30 and $0.50 per cubic metre, while in competing countries they often exceed $1.50. Construction costs in Egypt range from $500 to $800 per square metre, nearly half of the cost elsewhere. Value-added tax stands at 14 per cent compared to up to 18 per cent in other nations, and wages remain competitive relative to regional benchmarks. Egypt's textile-garment sector is seeing significant growth, backed by global economic shifts, a favourable investment climate and a surge in FDI, Mohamed Abdel Salam, head of the Readymade Garments and Textiles Chamber at the Federation of Egyptian Industries said. Cost benefits in construction, power, water and VAT have led several global apparel players to initiate or expand operations in Egypt. 'These cost efficiencies have led numerous global players in the apparel industry to initiate or expand operations in Egypt,' Abdel Salam was quoted as saying by domestic media reports. Turkish industrial conglomerate Shahinler Group is actively coordinating with Egyptian authorities to explore new investment opportunities. It is mulling over relocating part of its manufacturing operations, specifically in cotton, spinning, weaving and readymade garment production, to Egypt. Shahinler has already invested $50 million in the country. The group's expansion in Egypt is expected to generate up to 3,000 new jobs and annual production from the new facilities is projected to reach 3 million pieces of formal wear. Fibre2Fashion News Desk (DS)
Zawya
12-05-2025
- Business
- Zawya
Egypt eyes garment export growth to attract foreign investment
Egypt's garment and textile sector is experiencing significant growth, buoyed by global economic shifts and a surge in foreign direct investment (FDI), according to Mohamed Abdel Salam, Chairperson of the Ready-Made Garments and Textiles Chamber at the Federation of Egyptian Industries. Abdel Salam noted that Egypt's favorable investment climate is attracting increased attention from international manufacturers, thanks to its strong economic fundamentals and competitive production environment. 'Egypt offers one of the most cost-efficient operational landscapes in the region,' he said. Recent studies highlight key advantages: electricity costs average $0.07/kWh in Egypt, compared to $0.12 in many other markets. Water prices range between $0.30 and $0.50 per cubic meter, while in competing countries they often exceed $1.50. Construction costs in Egypt range from $500 to $800 per square meter, nearly half of what they can be elsewhere. The country's VAT stands at 14%, compared to up to 18% in other nations, and wages remain competitive relative to regional benchmarks. 'These cost efficiencies have led numerous global players in the apparel industry to initiate or expand operations in Egypt,' Abdel Salam said, citing rising investor interest in establishing new projects across the sector. Among the most recent developments is the expansion of Turkish industrial conglomerate Shahinler Group, which is actively coordinating with Egyptian authorities to explore new investment opportunities. Shahinler Group Chairperson Kamal Shahin recently held meetings with Minister of Public Enterprises Mohamed El-Shimy and officials from the Industrial Development Authority, facilitated by the Chamber. The discussions focused on mechanisms for collaboration and plans to relocate parts of Shahinler's manufacturing operations to Egypt—specifically in cotton, spinning, weaving, and ready-made garment production. With exports to 170 countries, Shahinler has already invested $50m in Egypt. The group's expansion is expected to generate up to 3,000 new jobs and will require land allocations ranging from 50,000 to 100,000 square meters. Annual production from the new facilities is projected to reach 3 million pieces of formal wear. 'This is a clear signal that Egypt is not only a viable alternative but a preferred destination for global textile production,' Abdel Salam emphasized, adding that the sector's export-oriented growth strategy will continue to play a critical role in attracting foreign capital and creating employment. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. ( Daily News Egypt
Daily News Egypt
12-05-2025
- Business
- Daily News Egypt
Egypt eyes garment export growth to attract foreign investment
Egypt's garment and textile sector is experiencing significant growth, buoyed by global economic shifts and a surge in foreign direct investment (FDI), according to Mohamed Abdel Salam, Chairperson of the Ready-Made Garments and Textiles Chamber at the Federation of Egyptian Industries. Abdel Salam noted that Egypt's favorable investment climate is attracting increased attention from international manufacturers, thanks to its strong economic fundamentals and competitive production environment. 'Egypt offers one of the most cost-efficient operational landscapes in the region,' he said. Recent studies highlight key advantages: electricity costs average $0.07/kWh in Egypt, compared to $0.12 in many other markets. Water prices range between $0.30 and $0.50 per cubic meter, while in competing countries they often exceed $1.50. Construction costs in Egypt range from $500 to $800 per square meter, nearly half of what they can be elsewhere. The country's VAT stands at 14%, compared to up to 18% in other nations, and wages remain competitive relative to regional benchmarks. 'These cost efficiencies have led numerous global players in the apparel industry to initiate or expand operations in Egypt,' Abdel Salam said, citing rising investor interest in establishing new projects across the sector. Among the most recent developments is the expansion of Turkish industrial conglomerate Shahinler Group, which is actively coordinating with Egyptian authorities to explore new investment opportunities. Shahinler Group Chairperson Kamal Shahin recently held meetings with Minister of Public Enterprises Mohamed El-Shimy and officials from the Industrial Development Authority, facilitated by the Chamber. The discussions focused on mechanisms for collaboration and plans to relocate parts of Shahinler's manufacturing operations to Egypt—specifically in cotton, spinning, weaving, and ready-made garment production. With exports to 170 countries, Shahinler has already invested $50m in Egypt. The group's expansion is expected to generate up to 3,000 new jobs and will require land allocations ranging from 50,000 to 100,000 square meters. Annual production from the new facilities is projected to reach 3 million pieces of formal wear. 'This is a clear signal that Egypt is not only a viable alternative but a preferred destination for global textile production,' Abdel Salam emphasized, adding that the sector's export-oriented growth strategy will continue to play a critical role in attracting foreign capital and creating employment.
Bahrain News Gazette
17-02-2025
- Politics
- Bahrain News Gazette
Justice Minister Meets With Muslim Council of Elders Secretary-General
Manama: Nawaf bin Mohammed Al Maawda, Minister of Justice, Islamic Affairs and Endowments, received Mohamed Abdel Salam, Secretary-General of the Muslim Council of Elders. He commended the preparations and efforts of Al Azhar Al Sharif, the Supreme Council for Islamic Affairs (SCIA) in Bahrain, and the Muslim Council of Elders in organising the Intra-Islamic Dialogue Conference. According to Bahrain News Agency, Bahrain will host the conference on February 19-20 under the patronage of His Majesty King Hamad bin Isa Al Khalifa. The event will be attended by Grand Imam Professor Ahmad Al Tayyeb, Grand Imam of Al Azhar and Chairman of the Muslim Council of Elders, along with a distinguished group of scholars. Minister Al Maawda highlighted the significance of the conference's timing, noting its broad participation from across the Islamic world. He emphasised that Bahrain's hosting of the event reflects its commitment to supporting unity and enhancing dialogue through constructive engagement.
