Egypt’s industry minister discusses automotive localisation opportunities with Mercedes-Benz
Egypt’s Minister of Business Khaled Hashem held an expanded assembly with a delegation from Mercedes-Benz Egypt headed by CEO Stefanie Volz to debate alternatives to localise automotive manufacturing and increase the corporate’s operations within the Egyptian market within the coming interval.
The discussions explored promising funding alternatives in Egypt’s automotive sector according to the federal government’s technique to deepen native manufacturing and facilitate the switch of superior international applied sciences.
Hashem famous that the Automotive Business Growth Program (AIDP) represents a key pillar in attracting main worldwide automotive manufacturers, highlighting that the programme gives an unprecedented bundle of incentives designed to localise the business in Egypt.
He defined that the programme is constructed round two parallel goals: assembly rising home demand and strengthening export capabilities. He added that creating feeder industries stays a prime precedence for the ministry in an effort to construct an built-in and sustainable industrial base.
The minister invited the corporate’s officers to discover the advantages obtainable below the programme, which hyperlinks funding incentives to growing the share of native content material and increasing home provide chains.
Hashem additionally reviewed a number of operational, procedural and customs-related challenges presently going through the corporate, together with proposals introduced by the delegation to deal with them.
He emphasised the ministry’s readiness to offer all vital assist and coordinate with related authorities to take away obstacles and facilitate procedures, guaranteeing a steady enterprise setting that encourages additional funding within the Egyptian market.
For her half, Volz expressed the corporate’s aspiration to additional strengthen its strategic partnership with the Egyptian authorities. She famous that the corporate is proud to mark 26 years of operations in Egypt, working by means of a foremost workplace representing the dad or mum model, which displays Mercedes-Benz’s sturdy confidence within the promising alternatives obtainable available in the market.
The assembly comes as a part of the federal government’s broader efforts to place Egypt as a regional hub for automotive manufacturing by attracting international producers, boosting exports and growing native value-added manufacturing.
