Locally-manufactured components of vehicles will not be less than 46%: Min

CAIRO - 29 April 2018: Trade and Industry Minister Tarek Kabil issued a decision stipulating that the locally-manufactured components of the vehicles should not be less than 46 percent.

In a statement released on Sunday, the minister underlined that the decision aims at establishing a real vehicles industry in Egypt based on manufacturing and not assembling.

He further considered the decision as a first step in a national strategy on manufacturing vehicles which is being outlined with a number of bodies concerned, including the parliament's Industry Committee, besides the private sector represented by pioneering local and international companies in this field.

The strategy will include providing incentives to lure investments so as to contribute to expanding the Egyptian vehicles market.