Egyptian Apparel Home Textile Industry Council (ECAHT), in collaboration with the International Finance Corporation (IFC), has been launched a new project on the supply chain to upgrade the technical textile industry in Egypt.
The project aims to attract foreign investment and promote exports while supporting Egypt as a hub for producing and exporting technical textiles.
The new project can attract an investment of approximately 12.
6 billion EGP ($ 800 million).
Mohamed Abdel Salam, Chairman ECAHT, said that Egypt’s exports of technical textiles are currently fixed at $ 750 million annually and are growing at an annual rate of 51%. He added that the project aims to boost Egypt as a hub for manufacturing and exporting this product, attract foreign investments, and foster exports.
Technical textiles are engineered products manufactured using natural and man-made fibers such as Nomex, Kevlar, Spandex, and Twaron. According to a report released by USAID, the future of the technical textiles market in Egypt has promising opportunities.
