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Two new textile industrial hubs will be established in Minya and Fayoum, covering 11 million square meters combined, to boost Egypt's textile sector. The initiative aims to increase exports from USD 2.8 billion to USD 11.5 billion in five years, creating 400,000 jobs and enhancing the sector's GDP contribution from 14% to over 20%. Each hub is projected to attract USD 1.5 billion in investment, offering comprehensive manufacturing infrastructure and support services.
Egypt’s Ministry of Trade and Industry has launched a mobile app named ‘دعم المستثمرين’ (Investor Support) to streamline investor complaints and inquiries, currently available for Android users with an iOS version forthcoming. The app allows users to register, submit complaints, track their status, and receive official follow-ups, enhancing communication between businesses and government. This initiative is part of a broader effort to improve digital infrastructure and attract more investment by reducing bureaucratic delays.
Elsewedy Electric has signed a USD 500 million agreement to establish a subsea cable factory in the Damietta Industrial Zone, covering 500,000 square meters and featuring a 180-meter manufacturing tower. This facility, the first of its kind in the Middle East, aims to produce 100% of its output for export, enhancing Egypt's role in global connectivity and supporting various industries, including renewable energy and petrochemicals. The project aligns with Egypt’s Vision 2030, promoting economic diversification and attracting investment.
Kamel Al-Wazir
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
new textile hubs in minya and fayoum to boost egyptian economy and jobs
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