Egypt's Minister of Business Public Sector meeting with employees at The Misr Spinning and Weaving Company on Saturday October 13, 2018 (Photo: Ahram Online)
Egypt's public business sector minister Hisham Tawfik said on Saturday that the ministry is working on implementing a new comprehensive plan to develop the textile industry within three years.
The minister's comments came during his visit to the Misr Spinning and Weaving Company, also known as Misr Helwan or the El-Ghazl factory, a publicly owned textile company located in El-Mahalla El-Kubra in the Nile Delta.
The minister explained that the comprehensive plan aims at increasing the operational capacity and production of the facility.
He has also pointed out that huge investments are expected to be pumped into the industry for the dyeing and processing stages.
During the minister's meeting with the company's board of directors and employees representatives, he called for the need to improve pricing systems, while developing an effective marketing plan and opening new export markets.
In August, the Egyptian government set the total value of a plan to modernize the state-owned textile sector at LE24 billion.