{"id":581857,"date":"2023-02-26T00:00:00","date_gmt":"2023-02-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=581857"},"modified":"2025-12-16T12:58:21","modified_gmt":"2025-12-16T12:58:21","slug":"pm-turning-the-tables-on-the-influencer-industry","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/pm-turning-the-tables-on-the-influencer-industry\/","title":{"rendered":"PM \u2014 Turning the tables on the influencer industry"},"content":{"rendered":"<section id=\"581859\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"581859\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TONIGHT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/this-evening-fresh-agreements-for-nine-regional-industrial-projects-global-stock-market-fear\/\">\r\n                            THIS EVENING: Fresh agreements for nine regional industrial projects + global stock market fear                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/this-evening-fresh-agreements-for-nine-regional-industrial-projects-global-stock-market-fear\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The signing of the agreements wraps up a two-day meeting in Amman on <\/span><span>our new <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/05\/30\/adq-eyes-investment-in-egypt-jordan-manufacturing-pm-pitches-uae-investors-on-infrastructure-projects-72262\/\" style=\"\">USD 10 bn<\/a><\/span><span style=\"font-weight:400;\"> industrial partnership with our regional neighbors.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">CORRECTION- <\/span><span style=\"\">We wrote in this morning\u2019s EnterpriseAM that the industrial partnership meeting<\/span><span> in Amman kicks off today and ends tomorrow. In fact, the meeting got underway yesterday and ends today. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/26\/this-morning-whats-it-going-to-take-to-unlock-gulf-investments-in-egypt-97848\/\" style=\"\">The story has been updated on our website<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY ABROAD<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The front pages of the international business press are split <\/span><span style=\"\">between<\/span><span style=\"font-weight:700\"> <\/span><span style=\"\">the anniversary of the <\/span><span>Ukraine War \u2014 which \u201cchanged Europe for good,\u201d according to the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.nytimes.com\/2023\/02\/26\/world\/europe\/ukraine-russia-war.html\" style=\"\">New York Times<\/a><\/span><span> \u2014 and how investors are preparing for an increase in market volatility. The stock market is starting to feel fear again with investors changing their minds about the likely course of future interest rate increases due to mounting evidence of persistent inflation, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/b287997b-a048-426c-bab3-9a6a97486c17\" style=\"\">Financial Times<\/a><\/span><span> reports. Traders are acquiring hedges at the fastest rate since the onset of the pandemic to guard against a potential downturn, according to the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/investors-are-bracing-for-spike-in-market-volatility-fb94e890?mod=hp_lead_pos2\" style=\"\">Wall Street Journal<\/a><\/span><span>. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">NGE to build Sokhna-Alexandria high-speed rail link:<\/span><span> French construction firm NGE and its subsidiary TSO will construct half of the first phase of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/26\/nge-on-board-to-lay-sokhna-alex-high-speed-rail-link-97852\/\" style=\"\">Egypt\u2019s high-speed rail line.<\/a><\/span><span style=\"font-weight:400;\"> TSO will be responsible for laying the 330 km section of track connecting Ain Sokhna to Borg El Arab via Sixth of October.<\/span><\/li>\n<li><span style=\"font-weight:700\">Dongfeng EVs land in Egypt: <\/span><span>Chinese auto firm Dongfeng\u2019s E70 500 Pro electric vehicles are <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/26\/dongfengs-e70-ev-is-here-97851\/\" style=\"\">now being sold<\/a><\/span><span style=\"font-weight:400;\">in the Egyptian market, courtesy of distributor Misr Helwan Automotive. <\/span><\/li>\n<li><span style=\"font-weight:700\">EKH to invest USD 170 mn in Egypt this year + reports record sales in 2022: <\/span><span>Egypt Kuwait Holding <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/26\/ekh-to-invest-usd-170-mn-in-egypt-this-year-reports-record-sales-in-2022-97850\/\" style=\"\">plans to spend<\/a><\/span><span style=\"font-weight:400;\"> some USD 79 mn to up its stake in subsidiaries, and will invest USD 91 in existing projects. <\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p class=\"web-image-inner\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"display: block\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/Inside-Industry-en-WEB-1600x584-v5-03-1.jpg?ssl=1\" alt=\"enterprise\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">*** It\u2019s Inside Industry day \u2014<\/span><span> <\/span><span style=\"font-weight:700\">your weekly briefing of all things industrial in Egypt.<\/span><span style=\"font-weight:400;\"> Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In today\u2019s issue: <\/span><span style=\"font-weight:400;\">Our spinning and weaving industry is getting back on its feet. The Public Enterprise Ministry has developed a plan to revive several industries and create new ones through private-public partnerships, including the spinning and weaving industry. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">? CIRCLE YOUR CALENDAR-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The 4th edition of AUC Business Forum kicked off today and will run through Tuesday 28 <\/span><span style=\"font-weight:700\">February.<\/span><span> The event features five roundtables on the changing role of business schools and how to remain relevant and impactful in society, with a lineup of distinguished scholars, practitioners, policymakers, and executives from Egypt and abroad. You can follow the forum as it unfolds in real time on the institution's <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/AUC.Business\" style=\"\">Facebook<\/a><\/span><span style=\"font-weight:400;\"> page.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">\u2600\ufe0f <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- <\/span><span style=\"font-weight:400;\">Expect a daytime high of 28\u00b0C tomorrow and a nighttime low of 14\u00b0C, according to our favorite weather app.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/bahrain\/\">Bahrain<\/a>\n                <!-- 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href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/de-influencers-are-turning-the-tables-on-the-influencer-industry-will-turkey-become-the-new-king-of-the-textile-supply-chain\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/influencer-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"581862\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/de-influencers-are-turning-the-tables-on-the-influencer-industry-will-turkey-become-the-new-king-of-the-textile-supply-chain\/influencer-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/influencer-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"influencer-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/influencer-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/influencer-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581861\" class=\"content-area-description single-story post-581861 post type-post status-publish format-standard has-post-thumbnail hentry category-for-your-commute tag-china tag-deinfluencers tag-enterprisepm tag-eu tag-for-your-commute tag-turkey wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.4659108c-47aa-4586-b01a-140f83431031.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span> <\/span><span style=\"font-weight:700\">De-influencers are the new influencers: <\/span><span style=\"\">De-influencing social media followers not to buy<\/span><span> certain products is a not-so-new trend that started picking up again in January, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.washingtonpost.com\/business\/2023\/02\/24\/tiktok-definfluencing-marketing-trend\/\" style=\"\">Washington Post<\/a><\/span><span> reports. Tiktok users are turning the tables on the influencer industry as content creators publish videos with honest reviews about products they think are not worth buying, for poor quality or overpricing. This seems to be gaining more follower traction than ever in light of the rising cost of living demonstrated by high inflation. \u201cI think that the de-influencers are going to get such a following because negative information is believable,\u201d said marketing professor at Georgetown University, Ronnie Goodstein. While some brands are asking de-influencers to give them another chance, others go as far as paying de-influencers not to talk about them, according to Goodstein.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span> <\/span><span style=\"font-weight:700\">Is China getting dethroned as king of the textile supply chain?<\/span><span style=\"\"> Western fashion brands are <\/span><span>veering away from a decades-long reliance on China for textile production as they navigate supply chain disruptions, higher labor and shipping costs, and labor laws, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/0e23cf24-ed9c-4a0a-916c-7059d3795b93\" style=\"\">Financial Times<\/a><\/span><span style=\"font-weight:400;\"> writes. UK-based shoemaker Doc Martens, for instance, outsourced just 12% of production for the 2022 autumn\/winter collection to China, down from 27% in 2020, with plans to bring the figure down to 5% this year. Spanish clothing retailer Mango is on board with the shift. \u201cWhat we\u2019re looking at is the extent to which all this global sourcing, developed over many years, might become more local,\u201d says CEO Tony Ruiz.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What\u2019s driving the shift? <\/span><span>Supply chain chaos kick-started by covid has ramped up freight costs and triggered shipping delays as the pandemic caught up with factory workers. The financial incentive to outsource to China has also been taken away by rising wages. The average factory wage doubled from CNY 46k per year in 2013 to CNY 92k per year in 2021. The US has also <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theguardian.com\/world\/2022\/jun\/21\/us-ban-on-cotton-from-forced-uyghur-labour-comes-into-force\" style=\"\">banned<\/a><\/span><span style=\"font-weight:400;\"> cotton goods from the Xinjiang region following its alleged use of forced labor in the production of cotton. And competition at home is taking off, with European clothing retailers rushing to cut delivery times in a bid to adapt to ever-changing fashion trends.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Turkey is gaining ground: <\/span><span style=\"font-weight:400;\">Turkey has been propping itself up as a textile hub, a position advanced by its inclusion in the EU customs union, which facilitates trade between member states. \u201cIt is a popular destination and already used by the likes of Hugo Boss, Adidas, Nike, Zara,\u201d procurement expert Simon Geale tells the FT.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/deinfluencers\/\">Deinfluencers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/turkey\/\">Turkey<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"581863 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"581863\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/581863\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581863\" class=\"content-area-description single-story post-581863 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/www.palmhillsdevelopments.com\/en-us\/home\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/Palm-Hills-The-Crown-web-dec-22.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"581864\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"581864\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ENTERPRISE RECOMMENDS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/marriage-story-doesnt-sugarcoat-the-unpleasant-realities-of-a-failing-relationship\/\">\r\n                            Marriage Story doesn't sugarcoat the unpleasant realities of a failing relationship                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/marriage-story-doesnt-sugarcoat-the-unpleasant-realities-of-a-failing-relationship\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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                  <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581864\" class=\"content-area-description single-story post-581864 post type-post status-publish format-standard hentry category-enterprise-recommends-2 tag-enterprise-recommends tag-enterprisepm tag-on-the-tube-tonight wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.4659108c-47aa-4586-b01a-140f83431031.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">? <\/span><span style=\"font-weight:700\">ON THE TUBE TONIGHT-<br \/><\/span><span style=\"font-weight:400;\">(all times CLT)<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span> <\/span><span style=\"font-weight:700\">The all-too-common tale of a failing relationship: <\/span><span style=\"\">Netflix\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/80223779\" style=\"\">Marriage Story<\/a><\/span><span style=\"\"> documents <\/span><span style=\"\">the heartbreaking reality of a marriage falling apart, and although the plot may not sound particularly compelling at first glance, the lead performances from Scarlett Johansson, Adam Driver, and Laura Dern make this movie a must-watch. The film shows how the two protagonists work their way through divorce and custody battles over their son, battling through anger, sadness, and most importantly, their unwavering love for one another. The movie was praised by critics for its moving script and performances, and it was nominated for six awards at the 92nd Academy Awards. Be forewarned: This is not a film that shies away from the tough truths of life \u2014 it confronts them head-on, making for a poignant and powerful viewing experience (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/youtu.be\/BHi-a1n8t7M\" style=\"\">watch trailer, runtime 2:18<\/a><\/span><span style=\"\">).<\/span><span style=\"\"> <\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-tube-tonight\/\">On The Tube Tonight<\/a>\n                <!-- <span 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class=\"stk-block-content stk-inner-blocks stk-46c5f99-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240927.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/mashreq.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27486.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Rise every day<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-8dm7ey1\" data-v=\"4\" data-block-id=\"8dm7ey1\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-8dm7ey1-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-8dm7ey1-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240928.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/www.beltoneholding.com\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27484.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Where disruption meets success<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        \r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-ylkjqcg\" data-v=\"4\" data-block-id=\"ylkjqcg\"><div class=\"stk-column-wrapper stk-block-column__content stk-container stk-ylkjqcg-container stk--no-background stk--no-padding\"><div class=\"stk-block-content stk-inner-blocks stk-ylkjqcg-inner-blocks\">\r\n            <div class=\"issue-sponsor-slide\">\r\n                <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/240936.jpg?ssl=1\">\r\n                <div class=\"overlay\"><\/div>\r\n                <div class=\"content\">\r\n                    <a draggable=\"false\" href=\"https:\/\/cira.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                        <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/27480.svg\" alt=\"\">\r\n                    <\/a>\r\n                    <span>Shaping the future of education in Egypt<\/span>\r\n                <\/div>\r\n          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class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/what-the-markets-are-doing-on-26-february-2023\/\">\r\n                            What the markets are doing on 26 February, 2023                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/what-the-markets-are-doing-on-26-february-2023\/\" target=\"_blank\">\n                    Open in new tab    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href=\"https:\/\/api.whatsapp.com\/send?text=What+the+markets+are+doing+on+26+February%2C+2023+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2023%2F02%2F26%2Fwhat-the-markets-are-doing-on-26-february-2023%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/what-the-markets-are-doing-on-26-february-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581872\" class=\"content-area-description single-story post-581872 post type-post status-publish format-standard hentry category-go-with-the-flow tag-egx tag-enterprisepm tag-go-with-the-flow wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.4659108c-47aa-4586-b01a-140f83431031.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The EGX30 rose1.2% at today\u2019s close<\/span><span style=\"font-weight:400;\"> on turnover of EGP 1.49 bn (25% below the 90-day average). Foreign investors were net sellers. The index is up 17.9% YTD.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In the green: <\/span><span style=\"font-weight:400;\">Egypt Kuwait Holding- EGP (+4.3%), Telecom Egypt (+4.2%) and Juhayna (+3.0%).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In the red: <\/span><span>Taleem Management Services (-2.5%), Rameda Pharma (-0.8%) and Fawry (-0.5%).<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull inside-industry vertical-section wide-section wp-block-group issue-section\" id=\"581873\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27470.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly look at the issues, trends, and policies that are shaping Egypt's manufacturing industries.                <\/p>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Sunday in EnterprisePM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/inside-industry\/\">\r\n                            Read Inside Industry                            \r\n                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">5<\/div>\r\n\r\n                        <p class=\"f-graphik\">INSIDE INDUSTRY<\/p>\r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/the-spinning-and-weaving-industry-is-getting-back-on-its-feet\/\">  \r\n                            The spinning and weaving industry is getting back on its feet.<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/the-spinning-and-weaving-industry-is-getting-back-on-its-feet\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/inside_industry\/the-spinning-and-weaving-industry-is-getting-back-on-its-feet\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/inside_industry\/the-spinning-and-weaving-industry-is-getting-back-on-its-feet\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The spinning and weaving industry is getting back on its feet.&url=https:\/\/enterpriseam.com\/egypt\/inside_industry\/the-spinning-and-weaving-industry-is-getting-back-on-its-feet\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/inside_industry\/the-spinning-and-weaving-industry-is-getting-back-on-its-feet\/&title=The spinning and weaving industry is getting back on its feet.\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+spinning+and+weaving+industry+is+getting+back+on+its+feet.+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Finside_industry%2Fthe-spinning-and-weaving-industry-is-getting-back-on-its-feet%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/the-spinning-and-weaving-industry-is-getting-back-on-its-feet\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/Cotton-ginning-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"581874\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/the-spinning-and-weaving-industry-is-getting-back-on-its-feet\/cotton-ginning-1600px-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/Cotton-ginning-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Cotton-ginning-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/Cotton-ginning-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/Cotton-ginning-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-581873\" class=\"content-area-description post-581873 inside_industry type-inside_industry status-publish has-post-thumbnail hentry category-inside-industry tag-enterprise-inside-industry tag-enterprisepm tag-industry tag-inside-industry tag-spinning-and-weaving wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span> <\/span><span style=\"font-weight:700\">The revival of the spinning and weaving industry:<\/span><span style=\"\"> The Public Enterprise Ministry has <\/span><span style=\"font-weight:400;\">created a strategy to revive a number of industries and develop a few others through partnerships with the private sector. The spinning and weaving industry is included in the strategy. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It is part of a larger plan to localize industries <\/span><span>as part of the state's efforts to reduce our significant import bill. This strategy includes both expanding current industries and introducing new ones. Reducing imports is a key component of narrowing the current account deficit, which <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/09\/egypt-ends-fy-2021-2022-on-a-good-note-despite-turbulence-83203\/\" style=\"\">narrowed to 3.7%<\/a><\/span><span style=\"font-weight:400;\"> in FY 2021-22, on the back of oil and non-oil exports, rising tourism revenues, and an increase in FDI. This also comes as we look to build a more resilient local industry (and economy) that is able to withstand shocks from the outside world, such as the effects of covid and the Russia-Ukraine war.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The strategy is all inclusive: <\/span><span>The ministry\u2019s strategy is open to all kinds of cooperation and partnerships with the private sector, Public Enterprises Minister Mahmoud Esmat <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.mpbs.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/news4.aspx\" style=\"\">told MPs earlier this month<\/a><\/span><span>, adding that it falls under the new <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/02\/importers-can-now-turn-the-page-on-l-cs-92524\/\" style=\"\">state ownership policy<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More investments from private sector players to come? <\/span><span style=\"font-weight:400;\">The ministry has prepared a list of state-owned companies seeking fresh investment. It is also working on qualifying a number of companies to partner up with the private sector as part of the state\u2019s efforts to drum up more local and foreign investments and encourage more private sector participation in our local economy. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The spinning and weaving sector is on the lookout for major investments: <\/span><span style=\"font-weight:400;\">The state is working on a large-scale project for the sector\u2019s revival. This will require major investments in factories and the cultivation of short-staple cotton in coordination with the Agriculture Ministry. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Why is the spinning and weaving industry receiving special attention? <\/span><span>The government sees the sector as one of the most important ways to get the Egyptian economy back on track and boost exports. The government is aiming to increase exports to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/05\/16\/madbouly-announces-plans-to-privatize-state-assets-boost-private-investment-71163\/\" style=\"\">USD 100 bn<\/a><\/span><span style=\"font-weight:400;\"> a year within the next 4\u20135 years and reduce dependency on imported products.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Four phases for the sector\u2019s revival: <\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Phase one: <\/span><span style=\"font-weight:400;\">Developing the cultivation and trade of cotton and upgrading cotton mills.<\/span><\/li>\n<li><span style=\"font-weight:700\">Phase two: <\/span><span style=\"font-weight:400;\">Upgrading and modernizing spinning, weaving, and dyeing facilities.  <\/span><\/li>\n<li><span style=\"font-weight:700\">Phase three: <\/span><span style=\"font-weight:400;\">Launching local yarn and terrycloth. <\/span><\/li>\n<li><span style=\"font-weight:700\">Phase four: <\/span><span style=\"font-weight:400;\">Marketing, entering new markets, and keeping pace with global trends.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s been a long time coming: <\/span><span>The Public Enterprise Ministry launched its EGP 21 bn <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2021\/02\/16\/also-on-our-radar-on-16-february-2021-32181\/\" style=\"\">plan to promote<\/a><\/span><span style=\"font-weight:400;\"> the spinning and weaving, which includes improving the efficiency of state-owned spinning and weaving factories, under a contract with Werner International Management.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">In numbers: <\/span><span>The ministry aims to more than double the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3XY8Sah\" style=\"\">production capacity<\/a><\/span><span style=\"font-weight:400;\"> of its mills to reach an annual 4 mn quintals of cotton, up from 1.5 mn, its spinning factories to reach a production capacity of 188k tons from the current 37k, and its textile factories to reach a production capacity of 198 mn meters a year from the current 50 mn. The ministry also plans to increase its ready-made clothing and knitwear production capacity from 8 mn to 50 mn pieces annually.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Merge and refocus: <\/span><span style=\"font-weight:400;\">As part of the plan, the ministry will merge nine of its cotton ginning and trading companies into a single entity, and will merge 22 spinning, weaving, dyeing, and processing companies into eight companies.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The factories are also getting new machines: <\/span><span style=\"font-weight:400;\">The state has signed contracts for new machinery with several major players based in Switzerland, Germany, Italy, France, and Japan.  The equipment will be purchased with a loan of EGP 1.5 bn from the National Investment Bank.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Where does the private sector stand? <\/span><span style=\"font-weight:400;\">Egypt has some 10k private sector ready-to-wear and textile production factories with an annual production capacity worth around EGP 200 bn, according to Chairman of the Federation of Egyptian Industries\u2019 readymade garments division Mohamed Abdel Salam.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Spinning and weaving companies were sitting on annual losses of USD 3 bn<\/span><span style=\"font-weight:400;\"> prior to the state\u2019s plans to revive the sector, Magdy Tolba, chairman of Cairo Cotton Center and former head of the Export Council of Spinning and Textiles, told us.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">IPOs for textile companies? <\/span><span style=\"font-weight:400;\">The private sector\u2019s involvement with the industry will help companies operating in the sector become joint stock companies and offer their shares on the Egyptian bourse, Abdel Salam said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Egypt has what it takes to become a hub for ready-made clothes and textiles<\/span><span style=\"font-weight:400;\">, Abdel Salam said, adding that the sector has advanced over the past few years and is now able to keep pace with fashion trends. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Where do the sector\u2019s exports currently stand? <\/span><span style=\"font-weight:400;\">The sector recorded some USD 2.2 bn in exports last year and aims to push that number to USD 8 bn in 2025, Abdel Salam said, adding that Egypt exports textiles to the US, Europe, the African Union, and a number of Arab countries. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The sector is also struggling with rising material costs: <\/span><span style=\"font-weight:400;\">Polyester prices have doubled over the short-term, jumping from USD 1k a ton to USD 2k on the back of global price hikes. The industry has also been impacted by the weakening EGP against the USD, which has doubled factory costs. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Investor demand for the sector is still lacking in the petrochemical space: <\/span><span style=\"font-weight:400;\">Due to the high investment costs, which can range from USD 3-5 bn, no local or international investors have yet shown interest in the textile-feeding petrochemical industry. Due to this, the sector needs attractive incentives to attract foreign investment. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Industry players want tax breaks<\/span><span style=\"font-weight:400;\">, Sayed Barhmatouchy, head of the International Textile Industry and member of the Federation of Egyptian Industries\u2019 textile division, told Enterprise. the state should start giving businesses tax breaks in relation to employee growth, he added. The state could start offering companies a 5-10% tax break per 1k increase in headcount. This will help companies save the required funds to go ahead with a capital increase, expand locally and globally, and discount their prices, helping increase competitiveness in the market.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The main thing the sector needs: Cheaper energy<\/span><span style=\"font-weight:400;\">, our sources tell us, adding that rising energy prices are one of the major challenges suppliers face when introducing new products.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Your top industrial development stories for the week:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Raya Electric Company and Elaraby Group will partner to manufacture <\/span><span style=\"font-weight:700\">more than 1 mn units of air conditioner heat exchangers<\/span><span> over the next three years, the two companies said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"\" style=\"\">statement<\/a><\/span><span style=\"font-weight:400;\"> last week (pdf).<\/span><\/li>\n<li><span style=\"font-weight:700\">Feeder Industries ask for govt\u2019s support in boosting production of auto <\/span><span style=\"font-weight:700\">parts:<\/span><span> The Egyptian Auto Feeders Association (EAFA) is discussing proposals with the General Authority for Investment and Free Zones (GAFI) aimed at facilitating the production of auto parts, including improvements to the transportation of goods and connecting facilities, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3KAKpoF\" style=\"\">Al Mal<\/a><\/span><span> <\/span><span>reports<\/span><span>.<\/span><\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/inside-industry\/\">INSIDE INDUSTRY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/spinning-and-weaving\/\">spinning and weaving<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"581875\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/26\/581875\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-581875\" class=\"content-area-description single-story post-581875 post type-post status-publish format-standard hentry category-the-enterprise-entertainment-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> THE ENTERPRISE ENTERTAINMENT CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">FEBRUARY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7 February-1 March (Tuesday-Wednesday): Z\u0101t exhibition, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/events\/921643002609699\/?acontext=%7B%22event_action_history%22%3A[%7B%22mechanism%22%3A%22search_results%22%2C%22surface%22%3A%22bookmark_search%22%7D]%2C%22ref_notif_type%22%3Anull%7D\" style=\"\">Safarkhan Art Gallery<\/a><\/span><span style=\"font-weight:400;\">, Zamalek. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15 February-2 March (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/events\/zawya\/%D9%85%D9%87%D8%B1%D8%AC%D8%A7%D9%86-%D9%86%D8%AC%D9%8A%D8%A8-%D9%85%D8%AD%D9%81%D9%88%D8%B8-naguib-mahfouz-festival\/1072238947501151\/\" style=\"\">Naguib Mahfouz Festival<\/a><\/span><span style=\"font-weight:400;\">, Zawya Cinema, Downtown Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3 March: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ticketsmarche.com\/sharmoofers-caravan-concert_se_1573.html\" style=\"\">Sharmoofers Caravan Concert<\/a><\/span><span style=\"font-weight:400;\"> at 8pm, Zed Park, Sheikh Zayed. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4 March: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/events\/563105732438267\/?acontext=%7B%22event_action_history%22%3A[%7B%22mechanism%22%3A%22search_results%22%2C%22surface%22%3A%22bookmark_search%22%7D]%2C%22ref_notif_type%22%3Anull%7D\" style=\"\">Maz Jobrani Standup Comedy<\/a><\/span><span style=\"font-weight:400;\"> at 4pm, The Marquee at Cairo Festival City, New Cairo. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-18 March: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cirquedusoleil.com\/ovo\" style=\"\">Cirque du Soleil\u2019s OVO<\/a><\/span><span style=\"font-weight:400;\">, Cairo international Stadium Hall.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 March (Wednesday): First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">APRIL <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">16 April (Sunday): Coptic Easter<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">17 April (Monday): Sham El Nessim. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">22 April (Saturday): Eid El Fitr (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">25 April (Tuesday): Sinai Liberation Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">1 May (Monday): Labor Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1 May (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ticketsmarche.com\/prebooking\/buy-tickets-backstreet-boys-dna-world-tour-2023-prebooking-01-may-2023-zed-east-by-ora-new-cairo-10540.html?cdBusinessPartner=FB&fbclid=IwAR36Mo37QnFX4UwgJqR0vxxuZsaz-GpQCs471QM2U7XkW2kO6FFEL1Y58b4\" style=\"\">Backstreet Boys<\/a><\/span><span style=\"font-weight:400;\"> at 7pm, ZED East, New Cairo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">4 May (Thursday): National holiday in observance of Labor Day (TBC). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10 June (Saturday): Thanaweya Amma examinations <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/moe.gov.eg\/what-s-on\/news\/dates-for-the-exams\/\" style=\"\">begin<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">30 June (Friday): June 30 Revolution Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">JULY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">18 July (Tuesday): Islamic New Year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 July (Thursday): National holiday in observance of Islamic New Year (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">23 July (Sunday): Revolution Day. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">27 July (Thursday): National holiday in observance of Revolution Day.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">SEPTEMBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">26 September (Tuesday): Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">6 October (Friday): Armed Forces Day.<\/p>\n<p>13 October- 20 October (Friday-Friday): The sixth edition of El Gouna Film Festival (GFF).<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":581858,"template":"","categories":[],"tags":[],"class_list":["post-581857","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"ae563bc6-b3fc-4819-be9d-09f48f91b330","teaser":"","photo_url":"https:\/\/ent.news\/2023\/2\/171.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PM \u2014 Turning the tables on the influencer industry - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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