Kermina Jewelery aims to launch 2.5 tons of gold works into the local market during 2021, a move to increase its production.
“The company produces 21-karat and 18-karat goldsmiths, and owns a wholesale center in the El-Gamaleya district to distribute its products to retail stores,” Mamdouh Abdullah, chairman of Kermina company, said.
Abdullah also noted that the company is preparing to establish a new factory on an area of 1,000 square meters in El-obour during the coming period. Kermina launched about 1.7 tons last year.
“Kermina cooperates with the modern technology company to produce products that are suitable to high purchasing capabilities,” Abdullah asserted, adding that the company tried to reduce production costs to stimulate sales movement.
Moreover, he affirmed that competition forces manufacturers to offer high-quality products with small-scale manufacturing, noting that the company has raised the value of a gram’s manufacturing by two pounds during the current year.
In the same page, he emphasized that companies, which provide high-quality products, are forced to raise workmanship, providing an example; the blow-up goldsmiths “empty of inside” are higher than the solid ones.
Thus, the chairman stressed the importance of tightening control over the markets and limiting the spread of fake goldsmiths as these fake works cause unfair competition.
In addition, the chairman called on the state to facilitate export procedures for manufacturers to open foreign markets due to their significant role in increasing production, offering job opportunities, and providing hard currency for the country.
The chairman also stated that the ‘Gold City’ project will certainly transform Egypt into the most important center in the gold industry in the Arab region. Therefore, the state should provide incentives for manufacturers to head there, as well as new legislation that may attract foreign investment.
Contributed by Omnia Ahmed