Farida Therapeutic Gemstones, one of Egypt’s leading gemstone manufacturers, is investing EGP 750mn (USD 15.2mn) in a new factory in Giza, scheduled to open in May 2026. The 12,000-square-meter facility is expected to boost the company’s production capacity by 85%, with all output earmarked for foreign markets, chairperson Marwa Ali said in an interview with Al Borsa.
Founded in 2010, Farida produces natural-stone rings, necklaces, prayer beads, bracelets and medallions. It currently exports about 70% of its production to markets including France, Italy, Libya, Morocco, Jordan and Saudi Arabia. Exports reached roughly USD 7mn in 2024, with rising overseas demand accelerating its expansion plans.
The expansion comes as Egypt’s jewelry and precious-stone exports rebound. In the first seven months of 2025, shipments rose 184% y/y to USD 4.3bn, with the UAE absorbing the lion’s share, according to data cited by the Information and Decision Support Center. The government has also ramped up export-support programs, allocating EGP 45bn in FY 2025 and speeding up cash rebate cycles to alleviate working-capital strains on exporters.
Farida’s move aligns with the state’s broader push to turn Egypt into a manufacturing and re-export hub under the flexible exchange-rate regime adopted in March 2024, which has improved transparency around export proceeds.
The company’s export-only strategy capitalizes on geographic proximity to Gulf distribution hubs and EU buyers. Its product mix also resonates with strong cultural demand in Arab and Mediterranean markets. But execution will depend on timely commissioning of the Giza plant and secure access to imported inputs from Asia and Africa. Policy continuity on customs, VAT, and export rebates will also be critical.
Beyond gemstones, Egypt’s total merchandise exports reached USD 34bn in 2024, with the EU, Türkiye, the UAE and Saudi Arabia among its top destinations. Non-oil exports are increasingly viewed as a stabilizing force for foreign-exchange inflows, especially as the country seeks to narrow its trade deficit and attract fresh FDI.p
