Egypt's Minister of Public Enterprises Sector, Mohamed El-Shimy, met with representatives from textile and garment industry chambers to strengthen cooperation with companies under the Holding Company for Cotton, Spinning, and Weaving. The meeting focused on expanding private sector partnerships to support local manufacturing, add value, and boost Egyptian exports to global markets.
Mohamed El-Shimy, Egypt's Minister of Public Enterprises Sector, emphasized the ministry's policy of full openness and readiness to partner with private enterprises. He underscored the importance of government-private sector integration in advancing the national industry and highlighted promising investment opportunities in Egypt's spinning, weaving, and textile sectors, especially amid ongoing modernization efforts.
Participants reviewed the progress of the national project to develop Egypt's spinning and weaving industry, implemented across several state-owned companies. These include Misr Spinning and Weaving in El Mahalla El Kubra, Kafr El Dawar, Shebin El Kom, Damietta, Dakahlia, Helwan, and Upper Egypt Spinning and Weaving in Minya. El-Shimy noted that the first phase was successfully completed and operational over a year ago, with work underway to finalize and launch the second phase. The third phase is slated for completion in the coming months, representing a comprehensive transformation of this strategic sector.
The development incorporates the latest global machinery and technologies to produce high-quality goods competitive in international markets. The plan also involves implementing an ERP system to enhance resource management, operational efficiency, governance, and transparency. It includes rehabilitating and upgrading older factories while preserving the historical legacy of Egypt's textile industry.
Private sector representatives welcomed the project's scale and expressed strong interest in partnering with the ministry's companies. They praised the investment opportunities it creates, noting its role in localizing the industry, generating jobs, and positioning Egypt as a regional hub for spinning, weaving, and ready-made garment manufacturing.