Turkish Industrial Complex for Household Appliances in Egypt
 

 Minister of Trade and Industry discussed with the head of a leading international company in the production of household appliances, Arcelik Turkish Company, the possibility of establishing a large industrial complex for the company in Egypt to produce electric and household appliances with the aim of benefiting from the advantages offered by the Egyptian economy in terms of trade agreements and trained manpower and the great facilities offered by the Egyptian government to attract the industrial investment.

The Minister  pointed out that the government is keen to create the attractive atmosphere for local and foreign investors by providing all facilities for establishing global specialized industrial clusters that contribute in the development of the Egyptian industry, exports increase and job opportunities availability.

The minister said that the desire of the Turkish company to transfer its factories from Eastern Europe to Egypt confirms the foreign investors' confidence in the reforming economic system that Egypt followed in spite of the negative impact of the world financial crisis. Moreover, he confirmed that that there are many international companies want to move their investments to Egypt, which proves the success of the Egyptian government in dealing with the repercussions of the world financial crisis.

IDA Chairman confirmed that the expected investments of the new industrial complex is up to LE600 million and provides about 2000 jobs. Besides, the production volume is expected to reach 11000 Household Appliances units of which the major part is to be exported to the European markets.