Egyptian Prime Minister Mostafa Madbouly announced that Egypt is ready to offer a package of incentives to promote the localization of the automotive industry in the country, according to a cabinet statement.
This is based on the condition that companies commit to rapid localization of this industry as well as the operation of the automotive manufacturing factories required within the framework of the national automotive localization strategy, he added.
Madbouly expressed the government’s eagerness to provide lands and establish factories, in cooperation with serious investors in this field.
Moreover, he stressed the need for a roadmap with specific timelines to set up automotive manufacturing factories in Egypt similar to those built in South Africa.
Source: Zawya