Arab Finance: Jade Textile Egypt, a unit of the Turkish ready-made garment manufacturer Jade Textile Group, is targeting exports worth $285 million by the end of 2026, with plans to increase them to $500 million by 2029 and 2030, CEO Selim Sankaya revealed.

In a meeting with Minister of Industry Khaled Hashem, Sankaya noted that this target depends on the full production of the company's factories in Alexandria, 10th of Ramadan, and Ismailia, in addition to operating the new factories at a production capacity between 50% and 60%.

Sankaya also outlined the company's plans to set up new factories and expand existing ones, in order to boost production and exports.

Moreover, he presented Jade Textile Egypt's plans to adopt sustainability and green industry standards in dyeing and textile production.

The talks reviewed the group's investments in Egypt, which began operations in 2008 and currently employs around 15,000 workers.

Meanwhile, Hashem affirmed that the spinning, weaving, and ready-made garment industry is one of the priority industries under Egypt's Industrial Strategy 2030.

He affirmed the ministry’s commitment to supporting textile manufacturers and removing obstacles facing investors in the sector, highlighting ongoing efforts to deepen local manufacturing, increase added value, and enhance global competitiveness.

The minister also welcomed Jade Textile's suggestion on the possibility of attracting Turkish companies specializing in recycling textile waste to invest in Egypt.

Earlier this month, Prime Minister Mostafa Madbouly inaugurated the Jade Textile factory in New Borg El Arab City.