World’s largest dyed fabrics and shirts producer, Luthai Group plans to set up its maiden factory spanning 500,00 sq m in Egypt. The $385 million facility will help boost Egypt’s position in the global textile industry.
With the group setting up its entire supply chain, from yarn production to garment production in Egypt, the factory will export around 100 per cent of its output, aligning with Egypt’s strategy to attract foreign export-focused investments.
Praising Egypt’s stable economy, Liu Deming, Marketing Director, Lutai Group, says, key factors like Egypt’s stable economy, skilled workforce and strong ties with China are driving the investment decisions in the country.
Hossam Heiba, CEO, GAFI confirms, Lutai is eligible for maximum incentives under the Investment Law and the Golden License, which streamlines operational approvals within 20 working days.
