The Chairman of the General Authority for Investment and Free Zones (GAFI) unveiled the first 100-percent Vietnamese investment in Egypt, Vietnam 2. This petrochemicals factory, operated by EUP Europe Plastics and named EUP Egypt, boasts an annual capacity of 300,000 tons of filler masterbatch, integral in the production of various plastic products. The initial phase investment for the project amounts to $30 million. EUP Europe Plastics, with eight factories in Vietnam, collectively yields an annual revenue of $250 million. The company's commitment to transferring technological and professional expertise to Egypt reflects its dedication to enhancing productivity and contributing to sustainable development in the country.
The inauguration marks a significant milestone as Vietnam 2 becomes a key player in the Egyptian market, highlighting the collaborative efforts between EUP Europe Plastics and GAFI. The investment underscores the potential for knowledge exchange and economic growth between the two nations, fostering a positive impact on Egypt's industrial landscape and the petrochemical sector.