China’s SAIC Motor Mulls Setting up Car Plant in EgyptSource: www.export-egypt.com 3/25/2018, Location: Africa |
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 Minister of Trade and Industry Tarek Kabil met with a delegation from SAIC Motor, China’s largest automaker, where they discussed the company’s intention to build a plant for car manufacturing in Egypt.
The meeting explored the privileges of the new investment law that encourages full-car manufacturing, rather than just assembly. “The proposed factory would give a boost to Egypt’s automotive industry, being one of the main drivers of industrial development in the country,” Kabil said.. He added that the Chinese factory would supply the domestic market as well as those in the Middle East and Africa that have free trade agreements with Egypt.. “The ministry is willing to support and facilitate the company’s entry into the Egyptian market, especially in light of a national trend towards deepening the car manufacturing industry as well as its feeding industries,” the minister noted.. The government, he explained, aims to and boost Egypt’s car exports and put Egypt on the global map of car making, through attracting more local and international automakers to invest in the local market.. He pointed out that the delegation’s visit comes as a result of the negotiations held with the company’s CEO during his visit to China in September. . Michael Yang, Executive Director of SAIC Motor's international department, said that the company’s decision comes on the back of its conviction that Egypt is one of the most promising markets in the Middle East and Africa.. Yang further emphasised that talks are currently underway with one of the top local auto companies to distribute SAIC’s products in Egypt.. SAIC Motor is known to be the largest auto manufacturer in China, accounting for 23.3% of car sales in the Chinese market, selling around 6.9 million cars in 2017. |
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