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Egypt to offer incentives to textile sector investors

Egyptian Minister of Industry and Foreign Trade Tarek Kabil recently said the country will offer incentives to investors for new textile projects. In a meeting with the supreme council for textile industries, Kabil said three cities and other industrial complexes for the textile industry have been set up in Kafr El-Dawar city and El-Mahalla city.

His ministry is cooperating with the ministries of industry, agriculture and the public business sector to develop the textile sector, Kabil said in a statement.

Egypt will launch the 2018-2020 national strategy for developing handicrafts and cultural industry by 2017 end, Kabil had announced in October, according to an Egyptian daily report.

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According to official statistics, exports by the country’s Textile Export Council increased by 3 per cent between January and October this year, standing at $673 million compared to $651 million during the same period a year before.

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