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Syrians’ investments in Egypt concentrate mainly on textile sector

YarnsandFibers News Bureau 2015-11-16 16:00:00 – Damascus

Syrian businessmen group- Egypt is a group of Syrian businessmen in Egypt who decided to continue their business in other countries and form semi-projects and factories that helped them and Syrians there. The number of the Syrian factories in Egypt constitutes about 80 percent of the Syrian factories established abroad, said Khaldoun al-Mowaqaa, head of Syrian businessmen group- Egypt.

The Syrian businessmen established projects that also enabled them to help the displaced Syrians, who were forced to leave the country due to crimes and heinous acts perpetrated by the terrorist organizations.

According to Al-Mowaqaa, the Syrian industrial factories operating now in Egypt concentrate mainly on the textile sector in addition to some food and trans formative industries.

The Syrian industrialists selected Egypt to establish factories and make their industries because it is the biggest on the Arab level and they knew its markets as it was previously a market for their exports which are endowed with good reputation and distinguished position according to the Egyptian consumer.

Egypt’s location near the traditional markets of the Syrian exports, the Gulf States and Africa, according to al-Mawqaa, allowed the Syrian manufacturers to familiarize the markets of the African countries in general and enter them through the Egyptian long- term relations and economic agreement with those countries.

Al-Mawqaa pointed out that what makes Egypt the most appropriate place for the Syrian industrialists is the Egyptian people’s nature of which the Syrians are consistent with.

The Egyptian consumer becomes nowadays searching for the products that have the following brand “Made by Syrian hands on Egyptian lands”, which means that the Syrian industry maintained its identity even its products are made in Egypt, he clarified

According to AL-Mawqaa, any Syrian manufacturer in Egypt has no more than 5 or 10 percent % of what he has been possessing in Syria, noting that those industrialists left Syrian due to compelling reasons and the alienation has increased their sense of belonging, so what they established in Egypt is a useful investment and would not be closed when they return to their country and it will not be an obstacle in preventing them from return back home.

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