Auto Industry
A number of ministers and senior state officials attended the meeting.
He asserted that the government has done a lot to back the car industry, referring to the presidential initiative to convert vehicles to run by natural gas.
Both companies are subsidiaries of the Egyptian Company for Metal Constructions (Metalco), which is one of the Public Business Sector ministry’s companies.
Egypt has a clear strategy to localize the auto industry in Egypt, and the current stage is witnessing an increase in the percentage of the local component in the auto industry to 45 percent.
Nissan asserted its desire to consolidate its presence in the Egyptian market.
“We will closely monitor the situation under the U.S. probe and fully evaluate the possible impact and resolutely defend our own legitimate interests.”
Kabil added that there are about 86,000 workers in the auto industry and feeder industries.
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