EL MAHALLA EL KOBRA, Egypt - 13 February 2023: Prime Minister Mostafa Madbouli on Monday asserted that the government seeks to develop the Holding Company for Spinning & Weaving in order to increase production rates sixfold to meet needs of the domestic market, the state-run factories and the private sector and to up exports as well.
Speaking at a press conference on the sidelines of his visit to Misr Spinning and Weaving Company in El Mahalla El Kobra city in Gharbia Governorate, in northern Egypt, Madbouli said ongoing efforts are focused on developing the Holding Company for Spinning & Weaving in the city, which is currently undergoing overall development.
He said the state is supporting all companies of Misr Company and seeks to develop them on the ground.
The premier had affirmed earlier the importance of the national strategy for developing the significant spinning and weaving industry.
The government, represented in the Public Business Sector Ministry, plans to develop the spinning and weaving industry as per directives of President Abdel Fattah El Sisi, added Madbouli during his visit to inspect several projects aimed at upgrading a number of spinning and weaving factories and carrying out development and service projects in the city.
The move is part of the state's comprehensive development efforts to further capitalize on the Egyptian capabilities in this regard in order to support the national economy, according to the premier.
Madbouli said that El Mahalla El Kobra is a largest industrial city in the country, describing it as the "biggest industrial landmark" in Egypt.
During the tour, the premier inspected the development works of the company's various sectors which is part of the Public Enterprises Ministry's all-out plan to restructure and overhaul the companies affiliated to the Holding Company for Spinning and Weaving at a total cost of LE 23 billion.
Prime Minister Mostafa Madbouli said the state seeks to make a genuine quantum leap in the spinning and weaving industry.
He said the state is allocating many investments to develop this vital sector, calling on the private sector to kick-start a real partnership with the state.
President Abdel Fattah El Sisi had stated the state is always ready for having a genuine partnership with the private sector in management, operation and marketing projects, the premier pointed out.
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