Prime Minister Moustafa Madbouli asserted that President Abdel Fattah El Sisi offers unlimited support for the strategy of localizing auto industry.

He asserted that the government has done a lot to back the car industry, referring to the presidential initiative to convert vehicles to run by natural gas.

The steps taken to support the car industry fall within the framework of the government’s plan to make Egypt a promising regional center for exporting to African and international markets, he said.

This came during Madbouli’s meeting with a delegation of the members of the Africa Association of Automotive Manufacturers (AAAM) in the presence of Finance Minister Mohamed Maait, Head of the General Authority for the Suez Canal Economic Zone (SCZone) Yehia Zaki and Deputy Finance Minister Ahmed Kajouk.

Meanwhile, Zaki reviewed the investment incentives in the SCZone that makes it an important investment destination, asserting that the zone is ready to receive major investments of international companies in the field of manufacturing cars.

The AAAM delegation asserted that Egypt has all the potentials that make it a promising center for car industry, adding that Egypt is the best choice in the coming period

The delegation reviewed the AAAM plan and vision to launch major investments in the field of manufacturing cars in East Port Said zone.

Source: State Information Service Egypt