China’s Handa Enterprise sees increasing its Egypt investments – ministry

Chinese ready-made garments and textile firm, Handa Enterprise plans to increase its investments in Egypt in spinning, textile and garment field, through strengthening its partnership with the private sector, according to Ministry of Public Business Sector’s statement on Sunday.

This come within the framework the keenness of the Ministry of Public Business Sector to develop the garments field, as Egypt enjoys highly competitive advantages in this sector, said its minister Mahmoud Esmat.

The ministry welcomes the partnership with the local and foreign private sector in light of the political leadership’s directives to improve corporate performance, business systems and management, Esmat pointed out.

This target will maximise the returns achieved and optimise the exploitation of untapped assets and productive capacities.

The meeting reviewed ways to enhance cooperation and partnership opportunities available between Egyptian Cotton and Textile Industries Holding Co. and the Chinese company.

It is worth noting that cooperation between the two sides was preceded about three years ago, when Handa leased a factory owned by Egyptian Cotton and Textile Industries Holding Co. that had been closed for many years.

The factory has been exploited in the production of ready-to-wear for export and has contributed to create many jobs.