“The government has already started to implement a plan, at a cost of EGP 8 million, to have 17 centres in Fayoum and Beni Sweif governorates receive cotton crops directly from farmers with no intermediaries.div style=”font-family: "Times New Roman"; font-size: medium;”>”.div style=”font-family: "Times New Roman"; font-size: medium;”>”According to Minister of the Public Business Sector Hisham Tawfik, this system gives farmers the right to be paid 70 percent of the sales price in cash, and that the remaining 30 percent are to be paid within one week of the public auction.div style=”font-family: "Times New Roman"; font-size: medium;”>”.div style=”font-family: "Times New Roman"; font-size: medium;”>”As part of its vision 2025, Egypt also plans to establish a new integrated city for textile industries and to boost the sector with EGP 12 million. The plan also involves establishing four new factories, modernising old equipment in existing factories, and providing training for workers.div style=”font-family: "Times New Roman"; font-size: medium;”>”.div style=”font-family: "Times New Roman"; font-size: medium;”>”The government plans to quadruple textile and garment exports by 2025.
Date:9/25/2019
Source:primark.com