Cairo – Mubasher: Egypt’s Supreme Council for Textile Industries will establish a joint company in coordination with a major Chinese firm to develop the Free Zone specialised in textile industries in Minya governorate, chairman Mohamed Kassim said on Tuesday.
The joint firm will be set up right after obtaining the approval of the Ministry of Investment and International Cooperation (MIIC) to establish the zone, Kassim added in a statement to the MIIC.
Kassim pointed out that the ministry is collaborating with the governor of Minya to finalise all the project’s required regulations.
This project aims at turning Egypt, particularly Minya, into a regional centre for textile industries in the Middle East and Africa, according to the statement.
Egypt’s investment minister stressed that this project is the first step to spread this experience across the country’s governorates.
The MIIC will partially fund this project through international financing institutions, Nasr said.
Nasr further noted that the ministry will also offer textile industries training programme.
