Gov’t interested in car manufacturing, not just assembly

The government has launched a strategy for the automotive industry in East Port Said Industrial Zone, Chairman of the General Authority for the General Authority of the Suez Canal Economic Zone (SCZone) Walid Gamal Eddin said Saturday.

The authority chief was speaking during a dialogue session held by the French Chamber of Commerce and Industry in Egypt, with the participation of the CEO of the Sovereign Fund of Egypt (TSFE) and representatives of some French companies wishing to explore investment opportunities in Egypt.

He said the government is interested in car manufacturing, not just car assembly, adding that the car industry is among the sectors targeted for local entrenchment under the SCZone 2020/2025 plan.

He added that the auto industry is prominent among these industries; therefore, a car manufacturing complex is under construction in East Port Said to lure further investments in coordination with the main industrial developer in East Port Said Industrial Zone.