Dr. Mohamed Awad:
• We aim to attract more export-oriented industrial investments and further integrate Egypt into global supply chains.
In line with the directives of the Minister of Investment and Foreign Trade (MIFT Minister) to support the investments of global companies and facilitate their expansion in the Egyptian market, Dr. Mohamed Awad, Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI CEO), received Mr. Sid Hirdaramani, Director of Sri Lanka's Hirdaramani Group, at GAFI headquarters. The meeting was held as part of GAFI’s ongoing efforts to strengthen economic cooperation and attract more foreign direct investment, particularly export-oriented industrial investments.
The meeting discussed Hirdaramani Group’s expansion plans in the Egyptian market. The company affirmed its intention to establish Egypt as a regional hub for manufacturing and exporting to global markets, leveraging the country's competitive advantages. Hirdaramani Group is one of the world's leading manufacturers in the textiles and apparel industry, with advanced manufacturing capabilities and strategic partnerships with a number of the world's foremost international brands.
The Group operates more than 30 textiles and apparel manufacturing facilities across several countries, employs over 55,000 people, and generates annual revenues of approximately USD 1.2 billion. Its monthly production ranges between 12 million and 18.4 million garments, which are exported to international markets, reflecting its position as one of the world's leading companies in the textiles and apparel sector.
Dr. Mohamed Awad reaffirmed GAFI's commitment to providing the Group with comprehensive support to facilitate the implementation of its expansion plans in Egypt. He noted that attracting leading global companies in export-oriented industries represents a key pillar of the State's strategy to increase exports, deepen local manufacturing, and further strengthen Egypt's position as a regional hub for manufacturing and exports.
He added that GAFI attaches particular importance to strengthening the integration of the Egyptian economy into global supply chains, particularly in the textiles and apparel sectors, by attracting value-added investments, supporting supplier industries, and developing a network of local suppliers capable of providing production inputs in accordance with the highest international quality standards. These efforts aim to increase local value added and enhance the competitiveness of Egyptian industry in international markets.
For his part, Mr. Sid Hirdaramani, Director of Hirdaramani Group, expressed his appreciation for Egypt's continued progress in improving the investment climate and the incentives and facilitative measures provided by the State to support investors. He affirmed that the Group views the Egyptian market as a strategic platform for expanding its manufacturing operations and exports to global markets, and that it intends to continue implementing its investment plans in a manner that strengthens its regional and international presence At the conclusion of the meeting, both sides agreed to maintain close coordination during the coming period to explore new investment opportunities that would support the Group's expansion plans in Egypt, further strengthen the country's position as a regional hub for manufacturing and exports, and increase the contribution of foreign direct investment to economic growth, job creation, and the expansion of Egyptian exports, in line with the State's strategy to attract high value-added global investments.
