Monday 23 May 2022
I wrote – Shaima Hefzy:
Hisham Tawfik, Minister of Public Business Sector, said that the first 3 branches of the local sale of the “nit” brand will be opened before the end of June 2022 in Korba, New Cairo and Alexandria.
The branches will be dedicated to selling the products of government spinning and weaving companies, within a modern sales network and marketing mechanisms locally and globally, and adding a new assortment of products with the help of European designers, according to what the minister explained during his meeting with the French Chamber of Commerce and Industry in Egypt.
The minister pointed out that Egypt has been a pioneer in the textile industry for thousands of years as there were weaving deities in the ancient Egyptian civilization called “nit” and the task of selling, marketing and managing supply chains was entrusted to a newly established company for this purpose called ECH (Egyptian Cotton Hub).
Tawfiq explained that the ministry is keen and open to partnership with the private sector and achieving integration, believing in the importance of the role of the private sector, which is an essential partner in achieving economic development, as well as its efficiency in business management.
Tawfiq stressed that there are many models of partnership with the private sector in projects implemented by companies affiliated with the ministry, in addition to the ministry offering many opportunities for investment and partnership.
The ministry seeks to develop the sector, starting with the cultivation, trade, and ginning of cotton, through spinning, weaving, dyeing and processing, and ending with ready-made garments, trade and export. The development includes about 65 buildings, including factories, warehouses, power stations, facilities, and others, in addition to supplying the latest machines from major international companies in Europe and Japan.