White goods giant Haier, opens its first factory in Egypt

Haier, China's home appliance giant, is opening its first factory in Egypt on Wednesday, as it seeks to revive its manufacturing industry and increase employment.

$160 million was invested in Haier by the Haier Smart Home organization, which is also affiliated with him. With this investment, the factory is planned to cover an area of 200.00 square meters in Sharqia state of Egypt.

In his speech, the CEO of the country's investment and free zones, praising the ties between China and Egypt, emphasized that Egypt attaches importance to its trade with China.

In the same way, he stated that with the trade of technological and industrial household appliances, more Chinese investments will help increase the value chain of the country. This activity will generate approximately 2,000 jobs.