Automotive industry strategy included in unified manufacturing law

An automotive industry strategy drawn up by the Federation of Egyptian Industries (FEI) has been included in the draft unified automotive industry law, according to Hamdy Abdel Aziz, Chairman of the FEI’s Chamber of Engineering Industries.

The strategy was presented by the FEI to the Ministry of Industry three months ago, Abdel Aziz added.

He told Daily News Egypt that the automotive sector has been waiting for the Ministry of Finance to finish reviewing the law for its presentation to the cabinet and then the presidency for approval.

Abdel Aziz called on the Ministry of Finance to conclude its adoption of the law, as it is feared it will be postponed until after the upcoming parliamentary elections. Should the postponement occur, the law will then have to undergo a parliamentary review, which, according to Abdel Aziz, could take over a year.

Abdel Aziz said the chamber will meet with Minister of Industry and Foreign Trade Tarek Qabil to review the obstacles and problems the engineering industries sector faces, and the automotive industry’s position regarding the law.