President Abdel Fattah Al-Sisi met on Tuesday with Prime Minister Mostafa Madbouly and Minister of Public Enterprise Hisham Tawfik to follow up on the state’s strategy to develop the textile and ready-made clothing industry in Egypt, according to a statement by Presidential Spokesperson Bassam Rady.
In this context, Tawfik reviewed his ministry’s efforts to establish the largest spinning factory in the world in the city of Mahalla.
He added that the factory will be inaugurated in 2023, will span an area of 62,000 sqm, and will include the latest equipment and machinery in the industry using the experience of major international companies.
Furthermore, the factory will deal with all types of cotton, which contributes to capitalising on Egypt’s competitive advantage in cotton production worldwide in light of its quality and reputation in international markets.
Tawfik also presented his ministry’s extensive efforts to develop the marketing of Egyptian products from the textile industry by establishing a company for marketing, sales, and supply chain management for these products.
Additionally, the president was presented with samples of the luxury cotton textiles that the company has been marketing.
Finally, the minister discussed the latest developments regarding an enabling system for the implementation of bids on Egyptian cotton that is being implemented in cooperation with the Egyptian Commodity Exchange to ensure adequate execution.
For his part, Al-Sisi directed the continuation of all efforts to promote the textile industry in order to restore Egyptian cotton to its former glory within the framework of the comprehensive development pursued by the state, which contributes to maximising the use of Egyptian capabilities inherent in this framework, and thus supporting the national economy, especially that the textile industry is a labour-intensive industry.