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Thursday, 3 January 2019

Egypt in talks with at least six int’l automotive manufacturers to set up shop

The government is in talks with at least six global automotive manufacturers to set up full-scale operations in Egypt, Public Enterprises Minister Hisham Tawfik told Hona Al Asema’s Lama Gebril on Tuesday (watch, runtime: 5:37). “We are waiting for serious investors, someone who would go above 50k vehicles a year,” Tawfik said. The minister did not name any of the manufacturers, but said that one of them is a “leading brand.” Trade Minister Amr Nassar said last month that the government is planning to introduce policies aimed at attracting foreign investments to the sector, an alternative to the foregone automotive directive — legislation which would have local assemblers incentives to start manufacturing.

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