The Egyptian Minister of Commerce and Industry meets with top Turkish leather company to boost investments in local market

Newspaper Title: Ministry of Trade and Industry

Newspaper Number:

Tuesday - 30 May 2023

The Minister of Commerce and Industry held a meeting with one of the leading Turkish companies specialized in the leather industry to discuss injecting new investments in the Egyptian market.

During the meeting, the plan of Eskafi Holding Company to invest in the leather industry and the production of food gelatin in the Egyptian market was reviewed. The minister affirmed the ministry's keenness to provide all forms of support for local and foreign investments in the Egyptian market in collaboration with various government ministries and entities. He also highlighted the distinguished investment opportunities available in the Egyptian leather sector, particularly the availability of raw materials and qualified labor, as well as the Leather City in Robbiki, which represents a major hub for the industry. Additionally, he pointed out the free trade agreements signed with many major economic blocs and countries around the world, which enable Egyptian products to access many regional and global markets.

The minister emphasized the state's commitment to upgrading the leather industry to make Egypt a strategic center for leather production at the local, regional, and international levels. This is achieved through the integration of value chains in the Egyptian leather industry to produce a high-quality product capable of competing in both local and foreign markets. The Turkish company is currently considering injecting new investments in the Egyptian market by establishing a factory for the production of food gelatin and a number of other materials extracted from leather, with investments reaching 40 million dollars. Additionally, the company will qualify and operate three production units in the Leather City in Robbiki with investments reaching 6 million dollars.

Representatives of Eskafi Holding Company stated that the company operates in the leather industry and produces gelatin and collagen, owning four leather factories and two gelatin factories that hold 40% of the Turkish market. They also emphasized the application of modern technology in production to minimize waste and maximize the benefits of raw materials. The company's targeted projects in Egypt aim to meet the needs of the Egyptian market for various leather-derived products and export to foreign markets.

Source : Ministry of Trade and Industry

Translated by Rehab Taha

Cairo Chamber