First Vietnamese factory inaugurated in Egypt
Wednesday, 24/01/2024 14:45 (GMT+7)
Vietnamese Ambassador to Egypt Nguyen Huy Dung on January 15 attended the inauguration ceremony of EuP Egypt Factory of Vietnam's European Plastics Joint Stock Company (EuP Vietnam Company), specialising in producing filler masterbatch in Sadat City, Menoufia Province.
|Vietnamese Ambassador to Egypt Nguyen Huy Dung attended the inauguration ceremony of EuP Egypt Factory (Photo: baoquocte.vn)
The EuP Egypt Factory was built on an area of more than 34,000sq.m with an investment of 30 million USD. It is designed to have 24 production lines with a total capacity of 300,000 tonnes a year, creating jobs for more than 300 local workers. Its products will serve the Egyptian market and exports to the Middle East, Africa, Europe and America.
Speaking at the ceremony, Ambassador Nguyen Huy Dung sent congratulations to the company, emphasizing that EuP Vietnam Company is Vietnam's pioneering investor in Egypt. The government of Vietnam and the Vietnamese Embassy in Egypt are pleased to accompany and support Vietnamese businesses investing abroad, for the common benefit of both countries.
On this occasion, the Ambassador thanked the Egyptian authorities and asked them to continue creating favorable conditions for EuP Vietnam Company in particular and Vietnamese businesses investing in Egypt in the future.
The factory's inauguration and operation shows that Egypt is gradually becoming a destination for Vietnamese investors, taking advantage of preferential policies for foreign investors of the Egyptian government and its special position in logistics, convenient for trading with other continents.
EuP Egypt Factory is expected to become a successful example of Vietnamese businesses in Egypt, attracting more Vietnamese businesses to take advantage of investment opportunities, contributing to creating momentum to promote Vietnam-Egypt relations in the coming time.
Previously, on January 9, Ambassador Nguyen Huy Dung visited the EuP Egypt Company's booth at PLASTEX - the largest Plastic and Rubber Exhibition in the Middle East and North Africa region./.