Textile industry capable of integrating into global supply chains

Egypt's Minister of Industry, Khaled Hashem, emphasized that the textile and spinning industry holds significant promise for the country's industrial strategy. This sector, identified for its strong potential to integrate into global supply chains, could contribute to boosting local manufacturing, expanding exports, and attracting further investment.

During his visit to the 6th of October City's industrial zone, Hashem toured two factories specializing in textiles, knitting, dyeing, printing, and finishing. He pointed out the industry's competitive advantages, such as its labor-intensive nature, low energy consumption, and availability of skilled workers. These factors could serve as attractive incentives for additional investments and support production and exports.

At Naga Tex, the Minister observed a factory that produces approximately 1.44 million meters of fabric annually, with 90 percent of its components sourced locally. The company exports around 60 percent of its output to countries including Switzerland, Turkey, Germany, Brazil, and Italy, generating about $2 million in exports.

Similarly, Hashem inspected Misr al-Salam, a company involved in knitting, dyeing, printing, and finishing with an annual capacity of 5,000 tons of dyed and printed fabric. This plant utilizes 80 percent locally sourced components, with 20 percent of its output being exported to Turkey and Morocco, bringing in three million dollars in exports.

Hashem underscored the importance of increasing local components and integrating production chains. This approach would enhance the competitiveness of Egyptian products and support the country's goals of export growth and industrialization.