Industry Minister Khaled Hashem met with GID Textile Egypt Group CEO Selim Şankaya on Tuesday to discuss company expansion plans.
The meeting underscores Egypt's effort to attract foreign investment and increase the volume of textile exports to stabilize the national economy.
Hashem and Şankaya focused on a strategy to boost investments and raise the value of goods shipped abroad. According to reports, GID Textile Egypt aims to raise its exports to $285 million [1] by the end of 2026.
While some reports suggest a higher target, the company's specific goal for the end of 2026 is $285 million [1]. However, a separate potential annual export value of up to $500 million [2] has been associated with a new textile hub in Alexandria.
The discussions centered on how to scale operations to meet these targets. The collaboration between the ministry and the private sector is intended to create a more robust industrial infrastructure, a move designed to make Egyptian textiles more competitive in global markets.
By focusing on the Alexandria hub and GID Textile's growth, the government hopes to diversify its export portfolio. The expansion plans involve increasing production capacity and streamlining the supply chain to ensure that the targets for 2026 are met.
“GID Textile Egypt aims to raise its exports to $285 million by the end of 2026.”
Egypt is aggressively pursuing a strategy of industrial expansion to reduce its reliance on imports and increase foreign currency reserves. By targeting specific export milestones for GID Textile and the Alexandria hub, the government is attempting to signal stability and growth to international investors in the manufacturing sector.
