Cairo: Minister of Investment and Foreign Trade Mohamed Farid affirmed during a meeting with officials from General Motors that the Egyptian government is committed to supporting efforts to localize car manufacturing, boost industrial exports, and attract more foreign direct investment. The meeting, which took place on Tuesday, March 17, 2026, focused on the company's expansion plans in the Egyptian market. The minister highlighted the government's ongoing work to enhance the competitiveness of the automotive sector and its supply industries, aiming to increase their contribution to the country's GDP.

According to State Information Service Egypt, Farid underscored the strategic, long-term relationship between Egypt and General Motors, which has resulted in the production of over one million vehicles and the creation of thousands of direct and indirect jobs. He noted that General Motors' investments in Egypt exceed $530 million, with an emphasis on modern technology and increasing local content to support deeper domestic manufacturing.

The minister also emphasized efforts to develop a comprehensive export incentive framework, which aims to strengthen Egypt's position as a regional hub for production and exports to African and Middle Eastern markets. General Motors reiterated its commitment to Egypt as a central part of its long-term strategy, with plans to launch new models and expand production capacity to meet local demand and support exports.