Turkish Companies To Establish a Home Appliance Factory in Egypt

Turkey-based home appliances companies, Vestel and Zorlu, will establish a factory in Egypt with an initial investment of USD 70 million for the first phase.

The new factory is scheduled to start operations in early 2024. Approximately 60% of its production will be exported to foreign markets.

In 2020, trade exchange and investments between Egypt and Turkey reached a total of USD 7 billion, encompassing various sectors such as cosmetics, food, chemicals, medical and engineering industries, in addition to home appliances. Currently, there are 790 Turkish companies with plans to operate in Egypt, bringing a total of USD 2.5 billion in investments with them.