Egypt: Increasing The Subsidy For Textile Mills This Year

< p > > a href= "http://sjfzxm.com/news/index_c.asp" > Egypt < /a > the government has decided to raise the subsidy for textile mills and exporters to purchase cotton this year. The allowance is raised from 200 million Egyptian pounds to 500 million Egyptian pounds (1 Egyptian pounds about 0.1398 dollars).

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(P) the Egyptian government said that the decision would facilitate the purchase of Egyptian cotton by textile mills and exporters and reduce cotton imports.

It is understood that the subsidy standard is that the textile factory can get 50 Egyptian pounds / 45~50 (1 al tal equivalent to 45~50 kg), and the exporter can get 200 Egyptian pounds / Al tal.

That is to say, textile mills or exporters will receive corresponding subsidies if they purchase Egyptian cotton in the current year.

500 million of the total allowance for Egyptian pounds, 350 million will be used to subsidize textile mills and exporters, and the other 150 million will be subsidized to cotton growers for the purchase of cottonseed and fertilizer.

The Egyptian government expects that this measure will help increase Egyptian cotton production.

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According to the statistics of the Egyptian public mobilization and Statistics Center (CAPMAS), the second quarter of the year, the domestic textile mills in Egypt have reduced the purchase of Egyptian cotton by 79.9%, and the quantity of exporters' purchasing dropped by 46.5%.

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< p > > a href= "http://sjfzxm.com/news/index_c.asp" > < /a > link: Congo (gold) Eastern Province revitalize the cotton industry < /p >

< p > Congo (Jin) Eastern provincial government recently decided to set up the Weifei cotton production and agriculture company to acquire the original Northern Development Corporation (Codenord) in order to revitalize the cotton industry in the province.

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< p > original north development company was founded in 1987. It is a professional enterprise engaged in cotton production and cultivation. It is mainly responsible for supplying raw materials to several factories set up by Kisangani textile company (Sotexki) in the lower Willis area. It was declared bankrupt due to operating losses and so on, and was liquidated by the government departments.

Since then, Kisangani textile company has also fallen to a low level due to supply difficulties and local armed conflicts.

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< p > < < a href= > http://sjfzxm.com/news/index_c.asp > > reversing /a > the above situation, the Oriental provincial government actively helps enterprises develop the market and expand product sales.

Armand Mbaye, director of the investment and Planning Department of the province, recently revealed that Kisangani textile company is currently applying for entry into the clothing supply market of the police and army in the country and hopes that relevant departments will support it.

"This will not only save the last textile enterprise in Congo, but also provide market protection for cotton supply."

Armand said.

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