Egypt’s govt. committed to support automotive industry

The Egyptian Minister of Industry, Kamel El Wazir, reaffirmed the government's commitment to supporting the growth of the automotive industry in Egypt, emphasising the significance of backing global automotive companies as they expand within the Egyptian market and boost exports. To further this effort, Egypt's 15 per cent industrial financing initiative remains in place, with a focus on prioritizing key sectors for development. During discussions with General Motors Egypt, the minister praised the company's plans to expand its operations in Egypt, increase exports, and implement the National Automotive Development Program (AIDP), beginning with the Chevrolet Optra. The government is also exploring export incentives for the sector, including support for transport costs, to enhance exports from industries with high local added value. Source: State Information Service Egypt