Egypt aims to increase percentage of local component to 60% in auto industry

Egypt aims to increase percentage of local component to 60% in auto industry

FILE PHOTO: Newly manufactured cars are seen at the automobile terminal in the port of Dalian, Liaoning province, China July 9, 2018. REUTERS/Stringer/File Photo







CAIRO – 20 December 2020: Egypt has a clear strategy to localize the auto industry in Egypt, and the current stage is witnessing an increase in the percentage of the local component in the auto industry to 45 percent, Minister of State for Egyptian Military Production Mohamed Ahmed Morsy said Sunday.

 

Morsy expressed his country's aspiration to increase the percentage of the local component in the auto industry to 60 percent during the next stage.

 

“Egypt is working in cooperation with the concerned authorities to achieve this goal, and Egyptian experts and scientists abroad who have an advanced vision in the auto industry contribute to this, and we are working to benefit from these experiences,” he added.

 

The Minister of State for Military Production