Rising production and labour costs has forced many Turkish industries to shift their operations to countries with cheaper resources.
For instance, Taha and Kipas Holding have decided to invest in production facilty being set up in Egypt.
While Taha Holding plans to establish a confection factory in Iskenderiye, the port of Egypt, Kipas Holding is to set up two manufacturing units in the country.
Taha Holding is also gearing up to start a dyeing house here that will create over 1500 jobs.
Another advantage that Egypt offers is duty-free access to the US markets.
Sahinler Holding also has a ready-to-wear factory here, that has attracted many foreign investors.
Sources have reported that by now, almost 95 Turkish firms have moved their operations overseas.
This has cost Turkey over US $460 million worth of export revenue along with about 100,000 jobs.
Uzbekistan, Bulgaria, Egypt and Jordan have become the top destinations for Turkish textile investments.
Fibre2fashion, NewsDesk - Turkey
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
