Minister of Public Business Sector Mohamed Shimi has received a high-level Chinese delegation comprising 37 investors and representatives from around 25 major textile companies, according to a statement.

The meeting aims to strengthen economic and investment cooperation between Egypt and China while promoting partnership opportunities in the spinning and weaving industry.

It also outlined the Egyptian textile industry and the Holding Company for Cotton Spinning and Weaving’s achievements in the sector.

Shimi also reviewed the company’s strategy in light of the national project to boost the spinning and weaving industry.

This project currently includes 10 subsidiaries, all implementing a comprehensive development and restructuring plan across financial, technical, administrative, and marketing aspects.

The minister explained that the national project aims to restore Egypt’s global leadership in the spinning and weaving industry by offering world-class products, deploying the latest industrial technologies, and maximizing production capacity.

It also seeks to increase market share and profitability and strengthen customer confidence both locally and globally.

Source: Zawya