Chinese automotive leader Great Wall Motors is set to establish a significant manufacturing facility within Egypt’s Suez Canal Economic Zone, focused on car production and spare parts. This development follows a recent meeting between Egypt’s Prime Minister Mostafa Madbouly and Great Wall Motors’ Vice President, Ming Xian Jun.
Prime Minister Madbouly emphasized Egypt’s dedication to supporting the project, highlighting the availability of investment incentives within the Suez Canal Economic Zone and additional benefits under Egypt’s export support program. Madbouly affirmed Egypt’s commitment to expediting necessary arrangements for the factory’s establishment, aiming to finalize the agreement by year-end.
Great Wall Motors, a key player in the global automotive market, plans to meet local vehicle demand and enhance export capabilities to regional and international markets. Ming Xian Jun highlighted the company’s comprehensive expertise in vehicle production, including truck chassis and spare parts, while also expressing a keen interest in partnering with local Egyptian companies.
The project is poised not only to boost Egypt’s automotive industry but also to foster skill development within the local workforce. Jun detailed plans for producing multiple car models in Egypt, along with specific investment details such as land requirements, production stages, and output projections for both domestic and export markets.
Industry experts view this initiative as a potential catalyst for Egypt’s industrial growth. Dr. Yasmine Ahmed, an economist specializing in Middle Eastern markets, noted, “This investment aligns with Egypt’s strategic goal of becoming a regional manufacturing hub, which could significantly enhance its economic standing.”
As Great Wall Motors prepares to establish its new base in Egypt, this collaboration marks a promising step towards boosting the nation’s industrial capabilities and strengthening bilateral economic ties with China.
