Arab Finance: Egypt’s General Authority for Investment and Free Zones (GAFI) held talks with Sri Lanka-based apparel manufacturer Hirdaramani Group over the company’s plans to expand its manufacturing operations in Egypt and use the country as a regional export hub, as per a statement.
GAFI CEO Mohamed Awad met with Siddarth Hirdaramani, director of Hirdaramani Group, at the authority’s headquarters as part of efforts to attract foreign direct investment into export-oriented industries.
During the meeting, the two sides reviewed the group’s proposed expansion in the Egyptian market. Hirdaramani Group said it plans to develop Egypt into a manufacturing base serving international markets by drawing on the country’s competitive advantages.
The company provides apparel manufacturing and related services to international brands. Its production footprint currently extends across Sri Lanka, Bangladesh, Vietnam, and Ethiopia, according to its website.
Hirdaramani Group has a workforce of more than 55,000 across six countries. Its 2024 sustainability report placed total revenue at around $1.2 billion and manufacturing capacity at 18.4 million garments. The ministry’s statement said the company operates more than 30 factories and produces between 12 million and 18.4 million garments a month for export.
Awad said GAFI would support the company as it carries out its expansion plans, describing export-oriented industrial investment as central to Egypt’s efforts to increase exports, deepen domestic manufacturing, and strengthen the country’s role as a production and export hub.
He added that the authority is seeking to connect Egyptian manufacturers more closely with global supply chains, particularly in the textile and ready-made garment industries. Its approach includes attracting value-added projects, supporting feeder industries, and developing local suppliers capable of meeting international quality requirements.
These measures are intended to increase the use of locally produced inputs and improve the competitiveness of Egyptian products in international markets.
For his part, Hirdaramani welcomed what he described as continued improvements in Egypt’s investment environment, alongside government incentives and investor support measures. He said the group views Egypt as a strategic base from which it can expand production and exports while strengthening its regional and international operations.
The two sides agreed to maintain coordination as they assess further investment opportunities and advance the group’s expansion plans. According to the statement, the prospective investments are expected to support job creation, export growth, and foreign direct investment in industries with higher added value.
