General Motors seeks boosting presence in Egyptian market
During the meeting, Nishi emphasized that the company desires to promote its presence in the Egyptian market, one of the main markets in the Middle East and Africa.
She affirmed her company's keenness to cooperate with the Ministry of Industry and Transport to strengthen the industry and increase its local product percentage, aiming for Egypt to be a significant export hub for the Middle East and Africa.
In addition, Nishi noted that the company targets export opportunities for certain types of cars from GM manufacturers to North African markets.
From his part, El-Wazir showcased Egypt’s plan to develop the automotive industry and its supporting industries to meet local market demand and export to external markets, especially those with the free trade agreement.
Furthermore, the meeting addressed the company’s requirements and suggestions to expand in the Egyptian market, contribute to genuine investment, localize the auto industry, and provide job opportunities.
GM also expressed its desire to accelerate the implementation of the national Automotive Industry Development Programme (AIDP).
Chevrolet Optra will be the first new model registered in the programme, with the highest local added value.
Minister El-Wazir also revealed that Egypt aims to increase exports, particularly in industries with local added value. In this context, export incentives can be provided to the auto sector, including direct support for transportation costs to various markets.
Additionally, he emphasized the ministry's commitment to supporting global companies, enhancing production, and expanding in the Egyptian market and globally.
This coincides with Egypt’s efforts to support localization of the automotive industry, aligning with the country’s vision to become a regional hub for this industry and cover the needs of the local market and other major markets in Africa.
On 14 June 2022, Egypt launched the national strategy for developing the automotive industry to fulfil the local market's needs and boost exports to compete in the global automotive industry.