Leather production volume records LE 8B per year: FEI

CAIRO – 17 July 2017: Production volume of leather and footwear industries records LE 8 billion ($444.8 million) per year, a head of the Leather Industry Chamber at Egyptian Federation of Industries “EFI” Gamal al-Samaloty said on Monday.

“The Leather and footwear sector shares 18 percent of GDB and includes about 17.6 industrial establishments offering 270,000 job vacancies. The invested capital in this sector reaches LE 4.6 billion,” Samaloty added during investments opportunities of leather and footwear sector conference that is organized by Improved Leather Industry Company in cooperation with the Italian Trade Mission in Egypt.

He added that the Leather and Footwear Chamber is working on improving this industry through offering loans of LE 5 million at an interest rate not exceeding 2.5 percent in cooperation with Environmental Compliance Office at EFI to improve factories and to be environmentally friendly.