Chinese shoe manufacturing company to invest in Egypt leather industry

  •  China
  •  Apr 13, 2019
  •  By WFB Bureau
  • 2107 Views
Chinese shoe manufacturing company to invest in Egypt leather industry

Huajian Group, China-based shoe manufacturer, is expected to infuse huge investments in Egypt’s leather industry. The statement came from the minister of trade and industry Amr Nassar. 

He informed that the Chinese shoe company may grant financial aid to the leather industrial area on the outskirts of capital Cairo.

A meeting was recently held among Amr Nassar and a delegation from Huajian led by Zhang Huarong, Founder and Chairman of Huajian Group. Minister counselor for economic affairs at the Chinese embassy in Cairo Han Bing was also present at the meeting.

“Huajian targets pumping huge investments in the new Roubiki Leather City, particularly finished leather products with high added-value,” said Amr Nassar. 

The meeting also revealed Chinese footwear producer’s plans of establishing a complete industrial zone near an international airport for some light industries including textiles, electronics and home appliances. It is pertinent to mention here that the Group has earlier also successfully established a complete leather industrial park in Ethiopia.

Trade and Industry Minister highlighted Huajian’s expertise in leather manufacturing and described the group as “one of the largest investors in Africa.” He also commented on the development of the Egyptian economy, “Egypt provides all forms of support to earnest investors in all economic and investment sectors that would benefit the investors and the Egyptian economy alike.”

Putting light on its plans in Egypt, Zhang stated that the investment plan Egypt comes within the framework of China’s Belt and Road Initiative (BRI) for joint development that encourages Chinese investments in BRI participating states. Describing Egypt as a focal point in the BRI, Zhang said, “The Egyptian leadership has a clear vision on investing in Africa, which is a big motivation for our group to invest in the Egyptian market.”

Image Source: http://saudigazette.com.sa

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