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Article: 'Made in China' now made in Egypt.
- Article from:
- Daily News Egypt (Egypt)
- Article date:
- November 8, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PORT SAID: With cheap labor, investment incentives and unrestricted exports, one Chinese textile group has turned to Egypt as an ideal location to produce its ready-made garments, beating stiff competition at home.
The Chinese-owned Nile Textile Group has set up shop in the Port Said free zone, overlooking the north entrance of the Suez Canal, and developed an industrial estate now hiring 600 workers, 20 percent of which are Chinese and the rest Egyptian.
Cheap raw materials and favorable export conditions have given the company easy access to foreign markets.
It's a bargain for the Nile Textile Group, which imports 60 percent of its basic ...