Egypt seeks to settle local industries, especially the automobile industry.
Nevin Gamea, Egyptian Minister of Trade and Industry, held a meeting with a delegation of Mercedes-Benz Egypt headed by Gerd Peterlich, President and CEO of the company, to discuss the company's current and future projects in the Egyptian market, and its orientations to localize the electric car industry in Egypt during the next stage.
The Egyptian minister said that the ministry "is keen to encourage foreign investments operating in Egypt, for the growth of its business, especially in light of the favorable business environment that Egypt currently enjoys, as well as the steps taken by the state to encourage and enhance the investment climate and seek to localize local industries, especially the automobile industry." To the government's keenness to overcome all obstacles facing investors, thus contributing to making Egypt a focal point for foreign investments and increasing the flow of exports to foreign markets.
Gamea added that the political leadership in Egypt pays great attention to stimulating the localization of the auto industry and its feeding industries locally, and to reach the largest possible proportion of local manufacturing and production, pointing out that the Egyptian market "has all the ingredients that qualify it to become a major center for the manufacture of cars in the Middle East. and the continent of Africa.”
For his part, Gerd Peterlich, President and CEO of Mercedes-Benz Egypt, confirmed that the company supports the Egyptian government's directions towards the localization of the automobile industry and considers the Egyptian market a promising market and an important hub in the Middle East for the manufacture of Mercedes-Benz cars, pointing out that the company has witnessed significant growth. In the Egyptian market during the past few years, where the company’s logistics center is currently being completed in the economic zone of the Suez Canal on an area of 20,000 meters, and the company has increased the number of its agents in the Egyptian market, in addition to the local manufacture of four-wheel drive vehicles GLE and GLS, which reflects the company’s interest in expanding The scope of its business in the Egyptian market during the current stage.
The Source
- Egyptian Media
- Arab Media