The United Bank is to announce launching submitting applications for textile and ready-to-wear industries qualifying program
15/08/2023
Within Nile Pioneers initiative sponsored by The Central Bank of Egypt with the cooperation of the Exporting Council
The United Bank is to announce launching submitting applications for textile and ready-to-wear industries qualifying program
Ashraf El Kady- The Chief Executive Officer and Managing Director
- Egypt is amongst the largest exporting countries in textile and ready-to-wear worldwide.
- The Egyptian state is devoted to the settling industry file.
- The textile and ready-to-wear Egyptian industry is complementary with international competitive advantages.
- Targeting the maximization of textile industry contribution to the Egyptian exports and national product.
- 4 main industries for The United Bank value chain program.
- UB has 3 Nile Pioneer centers to encourage and qualify SMEs, start-ups and entrepreneurships.
- 4 prerequisites to join UB/ Nile Pioneers value chain program.
Dr. Heba Labib- The Executive Director of Nile Pioneer initiative
- Strong partnership with Nile Pioneer initiative supported by banks under the auspices of CBE.
- Nile Pioneer initiative focus on the internationally and locally demanded activities and projects.
Engineer Mohamed El Katatny- The Director of the Innovation and Entrepreneurship Center of Nile Pioneers
- Two phases for the qualifying program of textile and ready-to-wear industry.
- Submitting applications via the website.
Cairo: 15th of August 2023
With the cooperation of Nile Pioneers Initiative sponsored by The Center Bank of Egypt, and executed by Nile University, UB announced the launching phase for submitting applications qualifying and supporting textile and ready-to-wear programs until the end of next September. This program is managed by the value chain development center of the initiative, with the collaboration of the Textile and Ready-to-wear Exporting Council.
The United Bank sponsorship
The United Bank sponsors the supporting, qualifying and developing program provided for the textile and ready-to-wear industry. The program takes place in 6 months within the framework of value chain development center. It provides technical and administrative support for SMEs enterprises working in the textile and ready-to-wear industry field. In addition to a number of qualifying and specialized training programs in textile and ready-to-wear sector. Innovation and technology transporting as per the international quality standards.
The center also provides help with applying the e-trade prerequisite and training on digital marketing mechanisms, how to conduct marketing researches, studies to the targeted exported to markets. Moreover, the contacting phase among the program- participant companies aiming to cooperate and expand on exporting and productive levels.
Egypt is amongst the largest 60 countries exporting textile and ready-to-wear.
Ashraf El-Kady- CEO and Managing Director pointed out that Egypt is considered as one of the largest 60 countries exporting textile and ready-to- wear. That sector is regarded as the only industrial sector that enjoys vertical integration in the Middle East, starting from farming the best kinds of Egyptian cotton passing through the phases of producing yarn to dyeing process to preparation to printing to knitting to final packaging, in order to compete internationally.
El Kady mentioned that as per the Industrial Modernization Center of Textile and Ready-to wear sector; the textile and ready-to-wear sector contributes only 3%. Meanwhile, its contribution to the Egyptian exports is around 16%. The sector is running by around 30% of the Egyptian industrial work force. The number of companies working in the field is around 4590.
Settling the industry
El Kady pointed out that settling the Egyptian industry needs a studied methodology to develop and qualify the local product to compete internationally. Thus, achieving the integrated economic development. He praised the huge efforts concerted by the state, economic institutions and civil society institutions in order to encourage the local industry and setting regulatory and legislative frameworks to settle and maximize the economic return with the national income.
He added that the textile industry is one of the ancient Egyptian industries. It has international competitive advantages. But it also requires more technical, and industrial support to keep pace with international developments. Coming on top developing value chains and promoting feeding industries. In addition to development process and qualifying technical cadres to boost the quality of the product.
He pointed out that Nile Pioneers initiative sponsored by CBE to develop value chain of this important industry. Aiming to achieve the required integration and unify the concerted efforts, especially for SMEs, start-ups sponsored by UB.
UB supports entrepreneurships, start-ups and small enterprises
It’s worth mentioning that UB has two centers of Business Development Services. One in Dakhahlya to cover delta region and the other is in Menia governorate to cover the Upper Egypt region. These centers are to develop non-financial and counselling services for entrepreneurs and start-ups, small and medium enterprises. Moreover, UB sponsors the center of developing value chains. These programs aim to promoting the growth of small and medium enterprises through developing value chains as it works on minimizing the gabs inside a particular chain and finding innovative and developmental solutions to improve its efficiency.
He added that value chain programs affiliated to the Nile Pioneers initiative and sponsored by UB have participated in developing and qualifying 5 important industries: furniture industry, diaries, plastic industry, textile and ready-to-wear industry.
Replacing imported product instead of local product
Dr. Heba Labib- the executive director of Nile pioneers initiative stated that Nile Pioneers with the participation of sponsoring banks that mainly focus on the local market- demanded projects, activities, suppot local industries, and replacing imported products with local ones, and boosting the approach towards storming overseas market with local products capable of exporting and competitiveness.
Engineer Mohamed El Katatny- - The Director of the Innovation and Entrepreneurship Center of Nile Pioneers stated that applying to the program is easily done through electronic submission on the website https://coda.io/form/Value-Chain-Program_dcPiTfjkB_-. Noting that the door is opening until the last of current September.
Program phases
He mentioned that the program is divided into two phases. The first is about awareness and comprehending the fundamentals of e-trade, website, work sample, and qualifying the products to be exported. Meanwhile, the second phase is committed to specializing a program to each company independently as per the current situation of the company, reducing costs, and linking between companies.
It’s worth mentioning that the development value chain center is a service entity established by the CBE- Nile Pioneers initiative. The center also sponsors UB within the framework of the efforts made by UB to help in developing its products, managing innovation, transforming technology and digital transformation.
Prerequisites
El Katanty added that the conditions to join developmental and support programs in textile industry is that: the company business is in the textile industry, the company is classified as small or medium enterprise as the definition of CBE, the company has commercial record, and been established since 3 years or more.
End.
