The government wants to use public money to deepen Egypt s supply chain
Egypt s plans to attract significant foreign investment in its garment and textile manufacturing sectors have been delayed due to the fallout from the Covid-19 pandemic – prompting the government to step in to spur development.
The government s Vision 2025 strategy had targeted attracting some US$17.5bn in foreign investment to quadruple textile and garment exports. But with the pandemic leaving the global clothing sector in the doldrums – and Egypt s exports down 20% last year – the government has earmarked some US$600m in public money to be invested in two tranches this year.