Economics

Minister: We seek to revive textile industry, restore Egyptian cotton glory

CAIRO – 16 February 2020: Minister of Public Business Sector Hesham Tawfik said Sunday that his ministry continues carrying out ambitious plans to develop spinning and weaving industries and improve the quality of Egyptian cotton to restore its glory and its international reputation.
He said that the developed gin in Fayyoum and other new gins would produce pure cotton with special standards to help improve the price of exported cotton.
Minister Tawfik called for pumping huge investments to restructure and develop spinning and weaving companies in two and a half years.
He said the development of cotton and spinning industries would provide high quality materials for ready to wear clothes, especially for the private sector factories.
For his part, Chairman of the Cotton & Textile Industries Holding Company Ahmed Mostafa reviewed a report on the development and restructure plan of the cotton companies at 21 billion pounds during fiscal year 2018/2019.



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