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Egypt adopts plan to improve cotton, textile industries
06 Oct '19
1 min read
Pic: Shutterstock
Egypt is adopting an integrated plan to improve the cotton and textile industries by learning from abroad, minister of public business sector Hisham Tawfik said recently. Twenty five cotton gins will be merged into 11, which will be ready within three years at triple the capacity, he told a symposium of the Egyptian Businessmen Association in Alexandria.
Fourteen old cotton gins’ lands will be used to provide the required financing and to repay all the sector’s dues, he said.
An export and central marketing unit will be set up under the Cotton and Textile Industries Holding Company to market the products of the company.
EGP 700 million will be allocated to train workers and establish a new technical training centre, he added. The strategy will be fully implemented by 2022. The government plans to quadruple textile and garment exports by 2025.
Fourteen old cotton gins’ lands will be used to provide the required financing and to repay all the sector’s dues, he said.
An export and central marketing unit will be set up under the Cotton and Textile Industries Holding Company to market the products of the company.
EGP 700 million will be allocated to train workers and establish a new technical training centre, he added. The strategy will be fully implemented by 2022. The government plans to quadruple textile and garment exports by 2025.
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