Chinese footwear giant Huajian invests in Egyptian industrial complex

Chinese footwear giant Huajian Group is set to invest hugely in an industrial area outside Egypt’s capital Cairo, renowned for leather production. The news was announced in a statement by Egypt's Minister for Trade and Industry, Amr Nassar.

Nassar spoke to the media after his meeting with a delegation from the Huajian Group, led by Zhang Huarong, the group’s founder and president, in the presence of the economic affairs adviser with the People’s Republic of China’s embassy in Cairo.

“Huajian’s goal is to increase investment in the new Roubiki Leather City, especially with regards to premium leather products,” said Nassar.

The Minister underlined that the Chinese footwear group is planning the construction of a new industrial complex close to Cairo's international airport, designed to promote the development of manufacturing facilities for textiles, electronics and home electrical appliances.

“Egypt is keen to offer the necessary backing in all sectors of the economy to major investors, a support which will benefit both the investors themselves and the Egyptian economy,” said Nassar.

The minister also emphasised Huajian’s long history of leather manufacturing, and the group’s success in building an industrial complex in Ethiopia, which led to Huajian being dubbed ‘the biggest investor in Africa’.

For his part, Zhang stated that Huajian’s investment commitment in Egypt is part and parcel of China’s Belt and Road Initiative (BRI), which encourages Chinese corporations to make fresh investments in the countries which participate in the BRI programme.

The Huajian group’s president described Egypt as a strategic country for BRI, adding that Egyptian leaders have a very clear vision of the investment needed in Africa, providing a “strong motivation for our group to invest on the Egyptian market.”