Cairo, Egypt (AP) An Egyptian textile company is set for the world debut of its first ever textile factory, with its factories in Qatar and Egypt set to become the world leading producers of Egyptian cotton, according to the country’s top textile official.
Egypt’s textile industry has grown steadily since its introduction to the world in the mid-19th century, but production has been slow to reach its potential due to the high price of cotton and the limited export market in the Middle East.
The textile industry also remains a largely underdeveloped sector, with many companies struggling to get started.
The announcement of the new Egyptian textile manufacturing facility, the first of its kind in the region, will come as a huge boost for the country.
Egypt’s textile sector has already seen a boom in recent years with a boom that has been driven by the global demand for fabrics and garments.
The country’s textile production jumped by 30 percent in 2017, and Egypt now produces nearly three-quarters of the world total of about 10 million metric tons of cotton.
Egypt has also become a global hub for the textile industry.
It is a leading supplier of textiles and apparel to more than 30 countries, as well as emerging markets like the United States and India.
In the last decade, Egypt has gained a reputation for being a leading exporter of textile to Europe and Asia, where it accounts for up to 40 percent of the global textile exports.
The company that will be opening the new textile factory in Cairo’s El-Arish district is an alliance of local firms that includes textile giant Adana, which is a member of the Egyptian government-owned conglomerate EMBRA.
It will have its own textile manufacturing plant, as opposed to a state-owned one that is based in the capital.
The project will be financed by the Egyptian Economic Development Corporation, which has been in control of the textile sector since the early 1990s.
The agency was established to promote Egypt’s economy and diversify the countrys textile industry and ensure that its exports were in line with the country s needs.
In a statement, EMBDA President Mohamed Ali said that the new facility would “provide an important step towards the success of the industry and create new jobs for the Egyptian workers.”
The company is also expected to employ 5,000 people in the first year of operation, the statement said.
The Egyptian textile industry already employs tens of thousands of people in Egypt, mostly in the textile and apparel sectors.
The company, which will produce about 1.8 million metric ton of cotton, is expected to be one of the biggest textile companies in the world, accounting for about half of the overall market.
Egypt, which was founded in 1922 as a trading post between the Ottoman Empire and the Ottoman-controlled Arab empire, is known for its high quality, high-quality cotton and silk.
Its production is often compared to that of Italy.
The industry was once one of Egypt s top exports, with exports growing from 2.5 million metric tonnes in 2014 to 3.5 percent of Egypts GDP in 2018.
But it is unclear how Egypts textile production will improve its economy, and its overall competitiveness.
The Egyptian economy has been slowing down since the end of last year.
In 2017, Egypt lost $2.6 billion in exports, compared to a growth of 3.3 percent in 2018, according the World Bank.
The textile industry in Egypt is still in its early stages.
The majority of its workers have not been paid for months, according a report by the country ‘s national information agency.