Egypt issues industrial licenses to home textile companies
According to the “Egyptian Gazette” report on December 4: Recently, Egyptian Minister of Trade and Industry Tariq Kabir presided over a meeting of the Supreme Council of the Textile Industry to discuss the current development status of the Egyptian textile industry and measures to improve the development level of the textile industry. At the meeting, Kabir emphasized the importance of increasing cotton planting to meet the development of Egypt’s textile industry. Kabir said that in 2016, the Egyptian Ministry of Trade and Industry issued industrial licenses to 255 textile companies, using an investment of 2.3 billion Egyptian pounds and providing about 51,000 jobs; in 2017, Egypt’s textile imports dropped from US$768 million in 2016 to US$200 million. US dollars, creating more opportunities for the Egyptian textile industry to increase output; Egypt will increase its efforts to protect Egyptian textile brands.
Egyptian Agriculture Minister Abdel al-Banna said that the Ministry of Agriculture has promoted Egyptian cotton by introducing three new varieties, increasing the cotton planting area to 220,000 feddans, and plans to increase it to 250,000 feddans. The Ministry of Agriculture has no objection to the cultivation of short-staple cotton, especially in Upper Egypt. Egypt issued industrial licenses to 255 home textile companies in 2016
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