President Abdel Fattah Al-Sisi expressed his support towards the promotion of Egypt’s textile and readymade clothing industry at a recent meeting with his ministers. The country’s minister of public enterprise Hisham Tawfik also assessed their plans to set up the largest spinning factory in the world in the city of Mahalla. The factory will be inaugurated in 2023 and will cover an area of 62,000 sqm.
The factory in Mahalla will be equipped with the latest industrial machinery similar to what major international companies use and deal with different types of cotton, especially long staple and extra-long cotton. It is intended to leverage Egypt’s competitive advantage in global cotton production thanks to its high quality and demand in international markets.
At the meeting, Tawfik mentioned in detail about a company formed by his ministry that was established especially for the marketing, sales, and supply chain management of Egyptian textile products. President Al-Sisi also reviewed samples of the luxury cotton textiles presented to him that the company had been marketing.
There were also discussions about implementing a bidding system for Egyptian cotton in collaboration with the Egyptian Commodity Exchange at the meeting.