Prime Minister Mostafa Madbouly witnessed on Wednesday 27/9/2023 the signing ceremony of a cooperation protocol between the National Social Insurance Authority and the Holding Company for Spinning and Weaving with the aim of exploiting some assets and maximizing returns.
Minister of Public Business Sector stressed that the state project for the development of the textile industry receives great attention and continuous follow-up, as it is an integrated project for the advancement of the cotton crop and the textile industry, which is important for the national economy and GDP, in addition to being a major supplier of inputs to textile and garment factories from the private sector.
Major General Gamal Awad explained that according to the protocol, cooperation is carried out between the National Social Insurance Authority and the Holding Company for spinning and weaving in exploiting some of the unused real estate assets owned by the Holding Company and paying the debts owed to the Authority within the fram
ework of public policy by maximizing returns on assets, their investment and good management.
Source: State Information Service Egypt