Italian footwear company Cofra to build €10 mln factory in Egypt

The new factory will be built on around 50,000 square metres and will employ around 2,000 people, Samir added during a meeting with Cofra's industrial and logistics development manager, according to a statement. 

Samir said the Italian company could start production in the Robbiki Leather City to take advantage of the major facilities it offers.

The minister announced that coordination was underway with the Ministry of Transport to establish a shipping line between the Egyptian ports of Damietta and Alexandria and the port of Trieste in Italy to facilitate trade between the two countries.

Cofra's executive said the company produces 3 million safety shoes annually, generating total sales of 140 million euros.

Trade between Egypt and Italy grew by 14.1 percent year-on-year (YoY) to $6.9 billion in 2022, according to data released by the Central Agency for Public Mobilization and Statistics.

The Robbiki Leather City was established in 2011 as part of the Egyptian government's plan to develop the leather industry and boost exports. The city is home to over 200 tanneries, as well as a number of leather goods manufacturers and suppliers.

Since the beginning of 2023, Egypt has taken serious steps to promote and attract investment, including slashing by 62% the paperwork required for new companies to prove their legitimacy and start operations.