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Wednesday, 27 March 2019

China’s planned textile complex could spell doom for Egypt’s local industry

Egypt is getting some flack in the US press this morning, with the Washington Post arguing that Congress should review the USD 1.3 bn aid it gives to Egypt — or at least use it as leverage to address human rights issues, a group of academics, policymakers and activists told a recent event in the US about the proposed constitutional amendments.

China’s planned textile complex could spell doom for Egypt’s local industry: The USD 2.1 bn textile industrial complex being developed by Chinese firm Mankai Investment in Sadat City may cripple Egypt’s already-squeezed local textile industry, Hagar Mohamed writes for Al Monitor. The government could have capitalized on the company’s interest in the sector to develop existing facilities with the “decades of experience” under Mankai’s belt — and help local firms build an international presence, the head of the Federation of Egyptian Industries’ textiles division says. On the flipside, however, some say the Chinese complex will actually be a boon for Egypt’s economy without harming local industry, since its output will be earmarked for export and therefore will not eat into the domestic market.

Other stories worth a skim this morning:

  • Egyptian hero earns Italian citizenship: Italian deputy PM Matteo Salvini has approved granting citizenship toRamy Shehata, the Egyptian boy living in Italy who saved his school bus from a hijack attempt last week, reports The BBC.
  • Terrorism list updates: The decision to put 145 people, including senior Muslim Brotherhood figures and supporters, on Egypt’s “terrorism list” was upheld by a court on Tuesday, a judicial source revealed, according to AFP.
  • Forty years of peace: The WSJ looks back at the 40-year peace between Egypt and Israel.
  • But is it really peace? What we have is strategic cooperation, rather than a “warm peace” consisting of vibrant relations between the two societies, RFI argues.
  • Putting an end to harassment: Two young Egyptian men have launched Fyonka, a female driver and passenger only ride-hailing app designed to curb harassment, EFE reports.

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