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Tuesday, 12 November 2019

VW interested in manufacturing nat-gas vehicles in Egypt

Volkswagen is interested in manufacturing natural gas-powered cars in Egypt, and is willing to increase its usage of locally-produced components, senior executives from the German company told Prime Minister Moustafa Madbouly in a meeting yesterday. The company would target the local market, but also export the surplus to foreign markets with which Egypt has trade agreements. The talks come as the finance and trade ministries work on Customs Act amendments that would give customs breaks for companies sourcing at least 10% of their components from the local market.

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