The Egyptian Chamber of Apparel and Home Textile Indutries (ECAHT) launched on Tuesday a project on upgrading technical textile’s industry supply chains that aims to attract about $800 million in investments, ECAHT announced.
The project was launched in collaboration with the International Finance Corporation (IFC), a member of World Bank Group.
ECAHT’s chairperson Mohamed Abdel Salam stated that the technical textile sector is a modern industrial sector in Egypt with annual exports totalling $750 million and an annual growth rate of 51 percent.
He added that the project aims to boost Egypt as a hub for manufacturing and exporting this kind of products as well as attracting foreign investments and fostering exports.
Technical textiles are engineered products manufactured using both natural and man-made fibres such as Nomex, Kevlar, Spandex, and Twaron.
According to a report released by the USAID, the future of the technical textiles market in Egypt has promising opportunities.
