President Sisi briefed on development of textile industry

CAIRO – 2 June 2025: In a meeting with a number of Ministers on Monday, President Abdel Fattah El Sisi was updated on the latest developments in the implementation of the national project for the development of the textile industry, as part of the state’s plan to restore this sector’s pivotal role. 

The meeting also reviewed the progress in enhancing the assets of public sector companies in the textile field, with the aim of developing and localizing the textile and garment industry, said Spokesman for the Presidency, Ambassador Mohamed El-Shennawy in a statement.

The meeting was attended by Prime Minister Dr. Mostafa Madbouly, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport Lieutenant General Kamel El-Wazir, Minister of Planning, Economic Development and International Cooperation Dr. Rania Al-Mashat, Minister of Finance Mr. Ahmed Kouchouk, Minister of Public Business Sector Eng. Mohamed Shimi and Minister of Investment and Foreign Trade Eng. Hassan El-Khatib.

Additionally, the meeting addressed to the development of raw materials for long- and short-staple cotton and polyester, the workforce status in the restructured textile companies, and updates on negotiations to attract foreign investors to operate in Egypt in this sector.

The President was briefed on the progress made in implementing the strategy adopted by the Ministry of Public Business Sector for the period 2024–2027. This included the contributions and commitments of public sector companies to supporting the state budget and current strategic projects for asset development. In this context, the ministry is executing 157 projects across its various areas of responsibility. Additionally, annual revenues have increased by 303% since the fiscal year 2014/2015.

The meeting addressed the latest developments in the implementation of the national project for the development of the textile industry, as part of the state’s plan to restore this sector’s pivotal role. It also reviewed the progress in enhancing the assets of public sector companies in the textile field, with the aim of developing and localizing the textile and garment industry. 

The meeting also covered the ministry’s efforts in the mining sector, including updates on various projects undertaken by the Metallurgical Industries Holding Company and related investment opportunities. The meeting reviewed the ministry’s initiatives regarding El Nasr Automotive Company and projects related to the production of public transport and passenger vehicles. It also addressed developments in the Chemical Industries Holding Company and its ongoing projects, as well as the Holding Company for Pharmaceuticals and Medical Supplies, all within the framework of the state’s strategy to support and localize the pharmaceutical, chemical, and medical industries. Additionally, the meeting touched on the ministry’s efforts in executing projects in the tourism sector.

The spokesman added that investment opportunities in public sector companies were reviewed, along with the efforts and measures taken to implement a comprehensive and systematic reform of these companies to improve their performance and enhance sustainability and to link them to Egypt’s Vision 2030, the government’s action program, and the State Ownership Policy Document, with the aim of maximizing returns on state investments in affiliate companies and boosting their contribution to the GNP.

The meeting also included a presentation on the workforce restructuring plan for companies affiliated with the Ministry of Public Business Sector.

The President gave directives to continue efforts to improve and develop the performance, management practices, and operations of public business sector companies. The President also emphasized the need to maximize asset returns, especially by enhancing partnerships with the private sector and keeping pace with technological advancements, while adhering to international standards for quality, sustainability, continuous development, occupational safety, and environmental protection. This is in addition to enhancing the role and improving the skills of the human factor. The President also gave directives to set specific targets based on a clear vision for each of the sector's companies.