Mostafa Madbouly, Prime Minister, revealed that he met with a large number of automotive industry investors in South Africa, on the sidelines of his recent participation in the 15th BRICS summit meetings, pointing to the steps he reviewed during this meeting that the Egyptian state had taken to localize the industry. Cars in Egypt, stressing in this regard the full readiness to provide any facilities or incentives, with the aim of accelerating the localization of this important industry.

This came during a meeting of the Prime Minister, to review developments in the national strategy for the automobile industry, and to discuss the mechanisms of the localization program for this industry in Egypt.

The Prime Minister said: “There must be a road map with specific timings; To establish car factories in Egypt, similar to what we witnessed in South Africa.

The Prime Minister asked the attendees to continuously communicate with auto industry investors. To complete these steps, and achieve what we aspire to in the localization of this important industry.

During the meeting, Engineer Hossam Abdel Aziz, member of the Supreme Council for Automobiles, reviewed the developments of the national strategy for the automobile industry, where it was noted that the goal of the strategy is to establish a sustainable industry based on real economic feasibility and global competitive advantages with technical support from the African Union of Automotive Manufacturers, and that this program will be It is compatible with global trade rules, enhances quantitative economies, maximizes local added value, maximizes the benefit of the Egyptian industrial and logistical infrastructure, creates decent job opportunities, and stabilizes the balance of payments.

The Prime Minister concluded the meeting by emphasizing that the state is ready to provide an incentive package on the condition of speeding up the localization of this industry and operating the automobile factories required within the strategy of localizing the automobile industry, indicating full readiness to provide land and even build factories within an agreement with serious investors in the automobile industry, who will undertake the operation of this sector. Factories.