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1m sqm provided for development of textile industries in Badr city: Minister of Industry - Daily News Egypt

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1m sqm provided for development of textile industries in Badr city: Minister of Industry

  The Ministry of Trade and Industry will provide 1m sqm of land for textile and clothing industries in Badr City in December as part of the government plan to develop 10 industrial areas dedicated to textile and clothing manufacture over the next five years, minister Tarek Kabil announced. According to a press release from …


 

The Ministry of Trade and Industry will provide 1m sqm of land for textile and clothing industries in Badr City in December as part of the government plan to develop 10 industrial areas dedicated to textile and clothing manufacture over the next five years, minister Tarek Kabil announced.

According to a press release from the ministry on Monday, the minister emphasised that the textile industry is one of four major fields of industry which the ministry has decided to develop through a strategy launched in November.

Kabil said that Egypt has a competitive advantage in this field, and the government plans on increasing its competitive abilities in this industry.

The minister added that the government aims to increase the value of textile and clothing exports to $6bn, and to create 1m jobs, adding that it is the second largest industry in Egypt. He added that the textile and clothing industry accounts for 30% of the total industrial production in Egypt; 16% of all its industrial exports; and 30% of all industrial employment with nearly 1.2 million people employed by 7,000 companies with investments totalling $5bn.

Kabil also added that the industry provides clothes and textiles to 70 million people, and that the ministry cares about implementing the agreements made in September between the Supreme Council for Textiles and the prime minister.

“The government is working on developing the industry from planting cotton to the final product,” said Bahaa El-Adly, the head of Badr City Investors Association.

El-Adly believes that the government is serious about developing the textile industry owing to its national importance. He added that it is important for textile industries to be grouped together so as to facilitate their improvement.

Investors in Egypt and especially in Badr City want more industrial lands; he believes the time is right for Egypt to pursue new investments in all industrial fields.

“The government must develop all industries at the same time because there is no such thing as an unimportant industry,” he said.

 

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https://www.dailynewsegypt.com/2016/12/05/603020/
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