Mohamed El-Shimy, Minister of Public Enterprises Sector, has visited the Egyptian General Company for Tourism and Hotels (EGOTH), a subsidiary of the Holding Company for Tourism, Hotels and Cinema (HOTAC), to review ongoing operations and project updates. During his visit, El-Shimy inspected various departments and divisions of EGOTH and held an extensive meeting with the CEOs of the company’s subsidiaries, with Amr Attia, Executive Managing Director of HOTAC, also in attendance.
The meeting centered on monitoring monthly performance indicators of the holding company and its subsidiaries, reviewing the progress of key tourism and hotel projects, and discussing strategies for improving the performance of affiliated hotels and tourist facilities. The group explored opportunities for better asset utilization and potential partnerships with the private sector to enhance the industry’s growth.
El-Shimy emphasized the importance of continuing the modernization and development of hotel assets, particularly through the tender process for selecting a global management company for the Continental Hotel project. He also reviewed updates on other significant projects, including the Carnelia Beach development in Marsa Alam, ongoing enhancements at the Nile Ritz-Carlton Hotel, and the Wood Plastic Composite project led by the Commercial Timber Company.
The Minister highlighted the need for a diversified tourism offering, including expanding the 3-star hotel segment, especially in governorates, and revitalizing iconic domestic trade companies such as Omar Effendi, Sednaoui, and luxury fashion house Hano. El-Shimy reiterated the importance of adhering to strict project timelines and conducting regular follow-ups to ensure that developments progress smoothly and assets are effectively managed to maximize returns.
In a separate visit, El-Shimy went to the Egyptian Cotton Hub, the commercial arm of the Holding Company for Cotton, Spinning, and Weaving, where he assessed sales, marketing, and performance activities. The visit aimed to review the company’s financial and technical performance, including growth indicators and updates on ongoing development projects aimed at boosting productivity and quality standards.
El-Shimy discussed strategies to enhance marketing and sales efforts, particularly focusing on increasing exports and maximizing revenues. He underscored the role of the Holding Company for Cotton, Spinning, and Weaving in promoting Egyptian cotton internationally, and highlighted ongoing efforts to modernize the spinning and weaving industry as part of a broader national initiative.
The Minister called for continued efforts to boost production capacity, improve sustainability standards, and enhance the competitiveness of Egypt’s cotton industry on the global market. He emphasized that developing this vital sector would contribute to supporting the national economy by increasing reliance on domestic products and enhancing Egypt’s position as a leader in the spinning and weaving industry.
