Egypt witnessed the opening of the first Vietnamese petrochemical Factory in Egypt with investments amounting to $30 million. CEO of the General Authority for Investment and Free Zones (GAFI), Hossam Heiba, inaugurated the EUP Egypt petrochemical production factory in Sadat City.

The factory will specialize in producing Filler Master batch, used in the manufacture of plastic pipes, bags and other plastic products, with investments amounting to $30 million in the first phase. Heiba announced that EUP Egypt is the first factory with 100% Vietnamese investments to be established in Egypt.

Additionally, the factory’s production capacity will reach 300 thousand tons to meet the needs of the local market and export.

The opening ceremony was in the presence of Hwang Kui Hui, Chairman of EUP Europe Plastics, and Vietnamese Ambassador to Egypt, Nguyen Huy.

The Chairman of EUP Europe Plastics highlighted that their factory in Egypt is an extension of the company's existing facilities in Vietnam, which consist of 8 factories producing 600 thousand tons annually, amounting to $250 million in revenue.

He emphasized the company's commitment to transferring their technological and professional expertise to the Egyptian market, aiming to enhance productivity and contribute to sustainable development.