President Abdel Fatah al-Sisi on Saturday asked the government to continue implementing comprehensive reforms in the public business sector, and to prepare an accurate database on assets to maximize the public sector’s investments.
During a meeting with Prime Minister Mostafa Madbouly and Minister of Public Business Sector Hesham Tawfik, Sisi also asked to continue the plan to promote the textile industry and exploit Egypt’s competitive advantage in cotton production.
Madbouly and Tawfik previewed a plan for reforming and developing the public business sector, especially in the textiles field, and discussed plans to develop the Egyptian Pharmaceutical Trading Company to contribute in providing more medicine in the Egyptian market.
Another topic of discussion for the meeting was the “Gossor” (Bridges) initiative, which aims to promote Egyptian foreign trade, including import and export operations, and spread Egyptian products in African markets through the navigation link between the ports of Ain Sokhna in the Suez governorate, and Mombasa in Kenya.
Tawfik also explained plans to develop cotton gins, and provided information on the public business sector.
The ministry of Public Business Sector will establish the world’s largest textile factory and ten new gins at the al-Shouna area of al-Mahalla al-Kobra in Gharbiya governorate as part of the public business sector’s plans of developing the textile industry.
Edited translation from Al-Masry Al-Youm