Hassan Ali Adam, the Turkish Trade Commissioner in Cairo, has said that labor strikes have forced three Turkish textile companies in Egypt to close shop.
“They could not meet their export obligations,” Adam said.
However, he added there would be other Turkish investments in Egypt, pointing to a project for the production of phosphate costing US$300 million.
He called on officials to resolve the problems facing investment so as to increase the growth rate to at least five percent.
Labor protests have intensified over the past year and a half, demanding better living and working conditions and opposing legislation that criminalizes strikes.
According to UN statistics, more than 40 percent of the Egyptians live on less than two US dollars a day.
Edited translation from Al-Masry Al-Youm
