Cairo: Egypt is poised to receive new Turkish investments exceeding $500 million in 2026, across several vital industrial and commercial sectors, Rami Fathallah, a member of the Egyptian Businessmen's Association (EBA), said.

According to State Information Service Egypt, Fathallah's remarks came on the sidelines of his participation in the meetings of the Egyptian-Turkish Joint Business Council. He pointed out that the current phase presents a genuine opportunity to deepen industrial partnerships between the two countries, given Egypt's advanced industrial infrastructure, the availability of skilled workforce, and the trade agreements that facilitate access to regional and international markets.

He explained that these investments will cover the spinning, weaving, dyeing, and finishing sectors, in addition to various industrial and commercial projects, adding that they reflect the renewed momentum in economic relations between Cairo and Ankara and the interest of Turkish investors in the Egyptian market as a promising industrial and regional hub.

He emphasized the importance of stimulating foreign investment, particularly from Turkey, through unconventional tax and procedural incentives that go beyond traditional investment attraction frameworks. The increase in Turkish investments would enhance the competitiveness of the Egyptian economy and encourage the localization of industry.

Fathallah stressed the need to link investment incentives to clear performance indicators, primarily the employment of Egyptian workers, increasing local content, and achieving sustainable export revenues. The textile sector is one of the most prominent areas of Egyptian-Turkish cooperation, given the accumulated expertise and manufacturing and technological capabilities of both sides, EBA member highlighted.

He noted that anticipated investments could contribute to boosting Egyptian exports, transferring technology, and creating direct and indirect job opportunities.