Prime Minister Mostafa Madbouly stated that advancing the textile sector is a strategic priority aimed at restoring the global standing of Egyptian cotton and maximizing its added value, emphasizing meticulous follow-up on development stages and empowering private sector participation in management to ensure governance and sustainable returns.
This came during a meeting on Sunday, April 26, 2026, to follow up on the implementation status of textile development projects and optimal asset utilization in the presence of Deputy Prime Minister for Economic Affairs Hussein Issa, Assistant Prime Minister and State-Owned Companies Unit CEO Hashem El Sayed, and Cotton and Textile Holding Company Chairman Ahmed Shaker.
Deputy Prime Minister for Economic Affairs Hussein Issa noted the meeting reviewed current progress and future visions to ensure integrated efforts for enhancing the efficiency of this vital sector.
Assistant Prime Minister Hashem al-Sayed detailed efforts to prepare the company for investors by enhancing subsidiary attractiveness through international governance standards and integrated investment opportunities.
He also reviewed temporary stock exchange listing steps intended to place companies on trading screens as a precursor to company splits and full readiness for private sector offerings to maximize state asset returns.
Cotton and Textile Holding Company Chairman Ahmed Shaker reported that the first phase of development at Misr Spinning and Weaving in El Mahalla El Kubra is 100 percent complete, covering spinning and weaving preparations and the power station.
The second phase is 95 percent complete, involving developments at Mahalla factories and Misr Shebin El Kom Spinning and Weaving.
The third phase has reached 69 percent completion and targets new factory complexes in Beida Dyers, Damietta, Dakahlia, Upper Egypt, and Helwan.
Shaker also reviewed the execution status of the Mahalla company split, the registration of subsidiaries with Misr for Central Clearing, and the financial status of construction and project funding.
Madbouly concluded the meeting by directing adherence to schedules and the acceleration of Mahalla’s split and registration procedures to facilitate private sector participation and increase exports.
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