Scheduled from 26th to 27th of November, Woodtech forum promises to be one of the best successful event for the wood and furniture sector in Damietta, Egypt. It is very promising for the future, that Woodtech Forum has great interest for international and local banks, and for big investment funds.
“Woodtech Forum” has attracted the interest of many international and local financial organizations and large investment funds, revealing its intention to finance investments in furniture machinery. Some of the banks and funds that they are interested in investing in the city of Damietta are:
- QNB ALAHLI (QNB Group has steadily grown to be the biggest bank in Qatar and a leading financial institution in the Middle East and Africa region)
- Social Fund for Development (SFD)
- European Bank for Reconstruction and Development (EBRD)
- Industrial Modernization Center (IMC)
These funds are intending to finance the purchase of furniture machinery, through new financial programs, especially designed for the wood and furniture industry. This is happening because the future projects to Egypt are big and impressive. The development of Damietta Furniture City is expected to attract many important investments in the fields of timber machinery and design. A rapid technological growth is expected, giving a new breath to the local furniture industry. New products which will be demonstrated in Damietta Furniture City are expected to be developed from high class materials and to be distinguished for their outstanding quality and design. Damietta Furniture City will become a top international meeting point for the professionals of wood, furniture and machinery industry. It is clearly shown that the economy of Egypt is growing again, with a rate between 3.3 and 4.3 %.
Additional, at Woodtech Forum, SCM Group, in a specially designed area, will have two woodworking machines in operation. Specialized technicians - operators of the Group, will show the capabilities of the woodworking machines to the attendees.