An alliance of Swiss and Chinese companies is conducting technical and financial studies on a plan to build a zone for textile industries in Minya, in Upper Egypt.
Mohamed Kassem, head of the Ready Made Garments Export Council, further told Amwal Al Ghad on Sunday that the alliance plans to complete the studies within three months.
The studies are designated to determine the volume of investments needed to carry out the Minya textile zone project, Kassem said.
This project is part of the Egyptian council’s strategy that aims to establish around 10 more zones in Upper Egyptian cities mainly, he added.
The Egyptian Textile Industries Council and the China National Textile and Apparel Council (CNTAC) penned earlier in May 2016 a framework agreement to establish a 1.2 million square metre zone for textile industries in Minya.
Egypt’s textile industry makes up around 3 percent of the country’s total GDP with roughly 1.2 million workers and engineers, representing no less than 30 percent of employment in the whole industrial sector. Textiles account for 14 percent of Egypt’s non-petroleum exports.