Egypt is capable of manufacturing automotives

Minister of industry and Foreign Trade Tarek Qabil said Egypt is qualified for the establishment of a real automotive industry based on manufacturing, rather than assembly, by raising the proportion of local components and increasing the added value.

This is in addition to making use of the competitive advantages Egypt enjoys, in particular its accumulated experience in this industry through major international brands operating in the sector, as well as highly trained technical workers.

Qabil added that Egypt’s geographical location also makes it an ideal hub for exporting to various international markets. Moreover, Egypt is linked through many of the trade agreements that allow Egyptian products to enter the African, European and Arab markets without customs restrictions.

Qabil said that Egypt is seeking to develop an integrated incentive system to encourage global-producing companies to manufacture their products in Egypt.