The world’s first specialized free zone for the textile industry is under construction in Egypt’s Minya Governorate, chief executive officer of the General Authority for Investment and Free Zones Mohsen Adel recently announced at the closing session of the ‘200 Years of Egyptian Cotton Conference’ organized by the Egyptian Junior Business Association.
As the textile industry’s focus shifts from Eastern nations to other parts of the world, Egypt should take advantage of the opportunity and attract textile investments, Egyptian media reports quoted Adel as saying.
Gographical location, consumer market, free trade agreements with COMESA and the availability of labour and suitable investment atmosphere are the four competitive advantages of Egypt that East Asian nations see, he added. (DS)
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