“The CEOs attending the meeting applauded the states ambitious plan to upgrade and restore the textile industry to its previous state so as to support the national economy, especially that textile is a labor-intensive industry. This is in addition to the competitive advantages that Egypt has in the cotton production worldwide. They also expressed their interest in increasing the scope of business activity in Egypt, in light of the growing economic development that Egypt is witnessing and the serious economic reforms that create an environment conducive to investment and provide promising opportunities for foreign investment”Minister Tawfiq offered an overview of a plan to leverage the assets owned by the public business sector companies, notably textile companies, in order to provide the necessary funding to implement the ministrys objectives, primarily to develop the industry in these companies.div style=”font-family: "Times New Roman"; font-size: medium;”>”.div style=”font-family: "Times New Roman"; font-size: medium;”>”President El Sisi stressed the importance and value of the public business sector in contributing to the comprehensive development process, given its numerous and various assets across the republic. He confirmed that this shall be taking place on the basis of preserving public fund and the sound management of the states assets in order to optimize their return for the benefit of the national economy.div style=”font-family: "Times New Roman"; font-size: medium;”>”.div style=”font-family: "Times New Roman"; font-size: medium;”>”President El Sisi emphasized the need to further develop public business sector companies and to modernize the machinery and equipment. This is in addition to focusing on investing in human capital by training, qualifying and enhancing the capacity and skills of the staff.
Date:4/16/2019
Source:hometextilestoday.com