ITDA in talks with Greek companies to establish ready-made garments market in Egypt

CAIRO, March 5 (MENA) - Head of the Egyptian Internal Trade Development Authority (ITDA) Ibrahim Ashmawi said that talks are under way with Greek investors and companies to establish a ready-made garments market in Egypt.

In statements to the press on Tuesday, he said the market, which will cater for the needs of the RMG industry, will be built on an area of 100 feddans with investment costs standing at $100 million.

He also pointed out that some Greek companies have expressed their desire to pump investments in a number of developmental and trade projects in the New Valley governorate in the southwestern part of the country, in Egypt's Western Desert, which consists of roughly a third of Egypt's area and boasts diversified natural resources.

Meanwhile Ashmawi urged potential investors to benefit from the many investment opportunities which will be placed on the national investment map in April in the governorates of North Sinai and the Red Sea along with the Suez Canal region.