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بوابة الفجر
Government Launches Leather Industry Project
The Cabinet has approved the establishment of a new project for the manufacturing, trading, and tanning of leather in Rokbiki, New Badr City, aimed at enhancing Egypt's position as a regional hub for the leather industry and export of leather products, in line with global expertise and advanced technologies. The project includes the production of 2.5 million pairs of shoes annually, with export expectations reaching approximately $148.4 million from 2027 to 2032. The investment cost is estimated at $12 million, with an expected operational start in September 2027. Approximately one thousand workers are projected to be employed, including 900 Egyptians. Additionally, the council decided to reduce the installment interest rate for developers and investment projects in new cities to 12% for one year, in order to support the investment climate and stimulate economic development.
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