Tarek Kabil, Minister of Trade and Industry announced the desire of one of the leading French producer of cars to establish car assembly plant by a local component of large.
which is in line with the new strategy of the cars, which are based on the deepening of the industry by increasing the local component ratios and increase the added value and benefit from economies of scale in the axes under Egypt ‘s association with multiple markets allows access to 1.6 billion people.
The minister said, during a meeting with Vice company, said the company had expressed interest in contracting with Egyptian companies to manufacture cars necessary components to meet the needs of the company mother in France and its branches in various parts of the world, pointing out that he also discussed the industrial investment company possibilities in Egypt and take advantage of the industry base feeder for cars in the domestic market KIA Egypt will be the starting centre for the company’s products to the surrounding and particularly African markets.
He said the auto industry is one of the most important strategic industries that the government is seeking to develop them in order to attract many car companies worldwide to invest in Egypt, both in the automotive industry or its feeding industries, pointing out that Egypt has all what it takes to build this vital industry, especially in the light of experience accumulated over the past years by the presence of more than 15 global company that bring its cars in Egypt as well as the high quality of Egyptian products and automotive components which received the acceptance of the global automotive industry.
For his part, Vice President of the French company said that the company is ready to pump investments in Egypt based on incentives and benefits to be included in the new strategy for the development of the automotive industry.
