1 Day
Source:
الاقتصادية
Minister discusses Egypt's auto industry plans
The Egyptian government is currently working on transforming Egypt into a regional or global hub for the automotive industry through negotiations with international companies. The goal is to attract significant investments and strengthen the local supplier base. The strategy relies on attracting global manufacturers to expand the market and develop supporting industries through efficiency enhancement programs and incentives to qualify local suppliers. This aims to build an integrated industrial ecosystem that emphasizes product quality rather than just the percentage of local content. Additionally, a modern electronic platform has been launched to support investment, enabling the assessment of opportunities and improving response times for investors. There are also programs to提升 the efficiency of struggling factories and connect them with investors, with a focus on increasing added value in the steel and iron industries by offering licenses for the production of iron ores. This is part of an effort to enhance competitiveness and reduce imports.
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