Zhejiang Hengsheng invests $70 million USD to build textile and apparel plant in Egypt

Recently, the Suez Canal Economic Zone (SCZONE) and Zhejiang Hengsheng Printing and Dyeing Co., Ltd. from China held the groundbreaking ceremony of Hengsheng (Egypt) Textile Technology Co., Ltd. in West Qantara Industrial City, Ismailia.

This $70 million USD investment project will cover the entire textile process, including design, weaving, dyeing, finishing, and sales. The project will be constructed in two phases, covering an area of 200,000 square meters, and is expected to create 1,500 direct jobs. The construction of this project will significantly enhance Egypt's textile production capacity and boost the competitiveness of African textiles in the international market.

In recent years, China-Africa trade relations have become increasingly close, and data and real cases from 2024 further highlight this trend. Trade between China and Africa continues to be robust, injecting new vitality into the economic development of both parties. Particularly in the textile industry, the prospects for Africa's textile dyeing industry are gaining attention.

According to the latest data from the General Administration of Customs, the total value of China-Africa imports and exports reached 1.19 trillion yuan in the first seven months of this year, a year-on-year increase of 5.5%. In 2023, China-Africa trade reached a new high of $282.1 billion, up 1.5% year-on-year. This data demonstrates the strong resilience and sustained growth potential of China-Africa trade.

Since the eighth Ministerial Conference of the Forum on China-Africa Cooperation in 2021, China-Africa trade has experienced a robust recovery. The historical high in 2023 not only reflects strong market demand but also marks a deepening of China-Africa trade cooperation. For example, imports of textile raw materials from Africa to China, such as cotton and wool, have significantly increased. In 2024, the quantity of cotton and textiles imported from Africa by China grew by more than 20% year-on-year, indicating a continued demand for African textile raw materials in the Chinese market.

China's imports of African textiles are increasingly diverse. In recent years, Africa's distinctive textiles, such as Nigeria's traditional fabrics and Kenya's handmade cloth, have gradually entered the Chinese market. These products not only meet Chinese consumers' demand for diversified products but also promote the internationalization of African textiles. For instance, the import of Egyptian cotton fabric into China has increased by 30% year-on-year, while Moroccan carpets and handmade embroidery have also gained high market recognition.