As the international market gradually picks up, Fujian enterprises with "traditional advantages" in textiles and apparels have ushered in a good opportunity to expand exports. According to Xiamen Customs, from January to June, Fujian Province exported a total of 10.015 billion yuan of textile products, a year-on-year increase of 21.53%. Among them, exports to other Asian countries and regions amounted to 5.855 billion yuan, a year-on-year increase of 38.07%, accounting for 58.46% of the total exports of textile products in Fujian during the same period; exports to European countries amounted to 1.157 billion yuan, a year-on-year increase of 14.21%. From the perspective of the nature of enterprises, private enterprises dominate, with exports of 8.275 billion yuan, a year-on-year increase of 30.28%; foreign-funded enterprises exported 1.223 billion yuan, a year-on-year increase of 23.74%.
With a total investment of US$70 million and covering an area of 200,000 square meters, Zhejiang Hengsheng Printing and Dyeing is building an overseas fabric factory in Egypt.
Recently, the Suez Canal Economic Zone (SCZONE) and China Zhejiang Hengsheng Printing and Dyeing Co., Ltd. completed the groundbreaking ceremony for the US$70 million Hengsheng (Egypt) Textile Technology Co., Ltd. in West Qantara Industrial City in Ismailia.
The project is used for textile design, weaving, printing and dyeing, finishing and sales. The factory will be built in two phases, covering an area of 200,000 square meters and will create 1,500 direct jobs.
According to a statement from the Suez Canal Economic Zone Authority, the event was attended by Gamal El Din, the director of the authority, and Ismailia Akram Galar Governor, who noted that Zhejiang Hengsheng Textile and Garment Factory is "the first in the industry within the Western Kantara Industrial Zone".
The companies will provide about 18,000 jobs, thereby creating a sustainable economy in Western Kantara. They are expected to export 80% of their products to international markets to achieve Egypt's vision of vigorously developing foreign trade exports.
