Egyptian textile sector eyes investments of $13bn until 2025- Supreme Council

Egyptian Supreme Council for Textile Industries eyes attracting new investments estimated at US$13 billion until 2025, Vice-President Mohamed Kassem stated Sunday.

Kassem -also the Chairman of  Ready Made Garments Export Council (RMGEC)-noted that RMGEC is currently conducting a strategy for developing textiles sector through boosting its exports and creating a lot of new job opportunities within the upcoming period.

He emphasised on the importance of overcoming all obstacles that face public firms working in the sector which incur losses estimated at around 3 billion Egyptian pounds annually and cumulated losses of 30 billion pounds.

Moreover, RMGEC studies establishing a smart city for textiles in Minya governorate on the space of 1.3 million meters in cooperation with a number of Chinese investors, Kassem clarified.