Back to the complete issue
Monday, 21 January 2019

Mercedes-Benz says new policies, clarity were behind its return to Egypt

Mercedes-Benz says new policies, clarity were behind its return to Egypt: New policies adopted by the Madbouly government provided clarity for car makers and encouraged Mercedes-Benz to return to the market with an assembly plant, Mercedes-Benz Egypt CEO Thomas Zorn said, according to a Trade and Industry Ministry statement. The statement said Zorn agreed with Minister Amr Nassar during a meeting on Sunday to form a committee of senior officials from the ministry to ensure that Mercedes assembly line is up and running as soon as possible. Nassar said his ministry is in talks with other major carmakers to bring them to Egypt with similar manufacturing facilities. Daimler said in a statement this weekend that it plans to build a new assembly plant for Mercedes-Benz in Egypt, but did not disclose the size of the investment or the time frame for the project.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.