Cairo: Minister of Public Business Sector Mohamed Shimi stated that the development of Tanta Flax and Oils Company, a subsidiary of the ministry's Chemical Industries Holding Company, is integral to a comprehensive strategy aimed at modernizing strategic manufacturing industries, enhancing the use of local raw materials, and strengthening integration among affiliated companies. The minister's remarks were made during a visit to the company where he also held an extended meeting with Ashraf El-Gendy, Governor of Gharbia, and several MPs representing the governorate.
According to State Information Service Egypt, the visit underscores the state's commitment to supporting national industry and maximizing the value of state-owned assets. During the meeting, discussions centered around the development of Tanta Flax and supporting the firm under modernization and expansion plans aiming to enhance its competitiveness and increase the added value of the flax and oils industries in Egypt. The meeting also touched upon several development and expansion projects carried out by ministry-affiliated companies in the governorate, including a comprehensive overhaul of Misr Spinning and Weaving Company in El-Mahalla El-Kubra, as part of a national project to revitalize the textile industry.
Shimi emphasized the ministry's keenness to strengthen communication with parliament members and consider their visions and proposals, highlighting their role as vital partners in the development process. He noted that continuous coordination with MPs supports the development of companies and helps balance economic and social goals, particularly concerning integrated regional development and job creation. Shimi also affirmed the government's focus on maximizing investment returns of state-owned assets and reinforcing the role of public sector companies in supporting the national economy.
Governor El-Gendy welcomed the minister's visit and commended Shimi's efforts in supporting and developing the public business sector's companies. He emphasized the ongoing cooperation between the ministry and the governorate in serving national industry. The governor noted that bodies in Gharbia prioritize supporting and developing major companies due to their crucial role in economic development and job creation. He highlighted the governorate's strong industrial base, stretching from El-Mahalla El-Kubra, a textile industry hub, to Tanta, which houses strategic industries such as oils and flax. El-Gendy affirmed the governorate's commitment to providing full support to these companies to ensure the success of development plans and the preservation of their industrial leadership.