Egypt seeks to boost its car industry: Min.

CAIRO – 17 February 2018: Egypt seeks to boost its car industry by revising the local component percentage in car manufacturing so that it reflects the capacity of this vital industry, Trade Minister Tarek Kabil said Saturday.

He said that the Egyptian market has all capabilities that qualify it to be a main industrial and logistic hub for manufacturing cars in the Middle East and Africa.

This came during the inauguration of Maz truck production line at the Helwan Machinery and Equipment Company, established in cooperation with Belarusian Maz company.

Kabil said that the car industry is one of the most important sectors for Egypt’s economy as it feeds more than 13 industrial sectors and creates 86,000 direct and indirect jobs, garnering an investment of $3 billion.

He added that his ministry seeks to create a car industry that is based on manufacturing, rather than assembling auto parts.

Kabil said that the new production line is a realization to what have been agreed upon during the joint meeting of the Egyptian Belarusian Trade Committee in the Belarusian capital Minsk in May 2017.

The inauguration ceremony was attended by Minister of State for Military Production Mohamed el-Assar, Minister of Transport Hisham Arafat and Belarusian Ambassador to Egypt Sergei Rachkov.