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Wednesday, 4 May 2016

HSBC’s research supports GB Auto’s push for the automotive directive

It would appear that HSBC agrees with suggestions in Egypt that the automotive directive will help rescue the domestic assembly industry, Al Borsa reports. A new research report by the bank suggests the automotive directive would will help companies in the sector, specifically GB Auto (as the listed bellwether for the industry) counteract the negative impact of the devaluation by encouraging more foreign companies to invest and removing some of the advantages of Moroccan and Turkish assembled cars have in Egypt. By raising the competitiveness of Japanese, Korean, and Chinese cars built in Egypt, the directive will help boost GB Auto’s performance as it looks poised to form key partnerships with international players looking to invest in Egypt. (Read in Arabic)

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