COVID-19 PRIVATE INVESTMENT DROUGHT PROMPTS PUBLIC CASH INJECTION INTO UPSTREAM TEXTILE MANUFACTURING IN EGYPT
January 2nd, 2021
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, with exports down 20% last year. The government’s Vision 2025 strategy had targeted attracting some USD17.5 billion in foreign investment to quadruple textile and garment exports. But with the pandemic leaving the global clothing sector in the doldrums, the government has stepped in directly to spur development, with some USD600 million in public money earmarked, to be invested in two ...
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