Egypt accelerates the pace of development of the automotive industry

Egyptian Prime Minister Mustafa Madbouli witnessed the signing of 3 framework agreements for the production of cars between the government and a number of local and international car companies.

It was noted that the framework agreements are aimed at achieving binding cooperation between representatives of the Egyptian government and companies in order to achieve the goals of the National Automotive Industry Development Program (AIDP).

Madbouli stressed that the signed agreements are based on the state’s interest in the development and development of the automotive industry, especially environmentally friendly vehicles, referring to Law No. 162 of 2022 on the establishment of the “Supreme Council of the Automotive Industry”, as well as the establishment of the “Fund for the environmentally friendly automotive industry” » for the development and growth of cars Automotive industry of Egypt and the development of the necessary resources to finance the environmentally friendly automotive industry.

In this regard, Major General Hussein Mustafa, an automotive expert and former executive director of the Automobile Manufacturers Association, said that the recent decisions to establish the High Council of the Automotive Industry are part of the implementation of the strategic plans of the automotive industry. industry to increase production and export volume and deepen local automobile production, highlighting the need for coordination between complete nutritional product factories, smaller intermediate products factories and small auxiliary raw materials factories, and put them in one structure, emphasizing that big steps have already been taken to create industrial cities for cars.

Mustafa added that the plans should focus on improving the quality in line with international standards required for exports and implementing the strategy of the automotive industry.

Egypt plans to produce the first national electric car and soon launch it on the market, as two models have already been developed.

Source: Sada El Balad