Egypt Zones accountACCOUNT

Sczone Chief: Gov't Interested in Car Manufacturing, Not Just Assembly

Source: www.export-egypt.com 12/10/2022, Location: Africa

Share |
The government has launched a strategy for the automotive industry in East Port Said Industrial Zone, Chairman of the General Authority for the General Authority of the Suez Canal Economic Zone (SCZone) Walid Gamal Eddin said

The authority chief was speaking during a dialogue session held by the French Chamber of Commerce and Industry in Egypt, with the participation of the CEO of the Sovereign Fund of Egypt (TSFE) and representatives of some French companies wishing to explore investment opportunities in Egypt.

He said the government is interested in car manufacturing, not just car assembly, adding that the car industry is among the sectors targeted for local entrenchment under the SCZone 2020/2025 plan.

Having attracted a great deal of diversified investments, the authority now targets 21 industries, including green fuel, Gamal Eddin added.

He added that the auto industry is prominent among these industries; therefore, a car manufacturing complex is under construction in East Port Said to lure further investments in coordination with the main industrial developer in East Port Said Industrial Zone.

Moreover, some cooperation agreements have been signed with global auto makers on that score, Gamal Eddin said.

He noted that the authority is also focusing on supply and complementary industries, while working for speeding up progress of the national company for railway supplies to strengthen the local manufacturing of these supplies and meet local as well as regional market needs.

Financials and Investment News in Egypt >>

Egypt >>  11/9/2024 - South Korean Ambassador to Cairo Kim Yonghyon praised steps taken by the Egyptian government to attract foreign direct investment.

South Ko...

Egypt >>  11/9/2024 - Chairman of the Egyptian Financial Regulatory Authority (FRA) Mohamed Farid took part in the International Organization of Securities Commissions (IOS...

Egypt >>  11/9/2024 - Minister of Housing, Utilities and Urban Communities Sherif el Sherbini had a meeting with Cameroon's Minister of Housing and Urban Development Celest...
Egypt >>  11/9/2024 - The Micro, Small and Medium Enterprise Development Agency (MSMEDA) is cooperating with the World Bank (WB) to upgrade the Egyptian Entrepreneurship ec...

Egypt >>  11/9/2024 - Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir had a meeting with Hayrettin Akgun Okay, CEO of...
Egypt >>  11/9/2024 - Minister of Planning, Economic Development and International Cooperation Rania el Mashat said that 42% of the public investments of the plan of the cu...




Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 |

More News

Oil & Gas Companies in Egypt >>

Related Links

Egypt Zones
Copyright © Universal Solutions All rights reserved. - Privacy Policy.