Islam Samy

CFO

Tawfeak El Bakry

11765 Cairo

Egypt

Telephone: 00201111077511

Mobile: 00201111077511

Egypt's textile industry upgrade may impact global market's cotton supplies

Egypt apparently has a plan to buck such a raw material export trend, and cotton is coming at the centre of such an endeavour.

The decline was aided by subdued client demand and mounting inflationary pressures, exacerbated by a depreciation in the Egyptian pound.

“In textiles, almost everyone is heading to Egypt, examining opportunities, and making investment decisions.

Despite fluctuations in imports, the growth in domestic sales highlights the resilience of Egypt’s automotive market amid economic challenges.

The plan targets developing new factories and expanding existing ones, where the investor will bear only 15% of the interest rate.

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