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FINANCIAL NEWS
Egypt works hard to establish local car manufacturing
28 May 2016
(MENAFN) Egypt is qualified and well prepared for the establishment of a real automotive industry based on manufacturing, rather than assembly, as explained and stressed by the nation’s Minister if industry.
This can be accomplished by raising the proportion of domestic components and expanding the added value, let alone that the country can make use of experience in this industry through top international brands operating in the sector.
Furthermore, besides its geographical location advantage, Egypt is linked through many of the trade agreements that allow Egyptian products to enter the African, European and Arab markets without customs restrictions.
Other major factor encourages the country even further; which is that the automotive industry is a labor-intensive industry and is interrelated with feeding industries, in which Egypt has major potentials and capabilities.
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