Egypt revives textile industry to cut imports

Egypt is boosting its textile sector with a renewed focus on domestic production. The government has restarted a key factory, MISR Artificial Silk and Polyester Fibres, after 12 year closure. This move aims to reduce reliance on imported raw materials and stimulate local manufacturing.  

To further strengthen the industry, Egypt is investing €1.1 billion in modernizing textile and garment factories. The government is also promoting cotton cultivation, with plans to increase production and improve quality. These efforts align with broader goals of reducing import costs and boosting the economy.  

Prime Minister Mostafa Madbouly has expressed strong support for the textile industry, emphasizing the importance of polyester production and encouraging partnerships with the private sector.

By modernizing ginning factories, supporting cotton farmers with guaranteed prices, and streamlining the textile industry's structure, Egypt aims to become a major player in the global textile market. This strategy is expected to create jobs, stimulate economic growth, and reduce the country's import bill.