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Minister of Investment and Foreign Trade discusses expansion plans with General Motors’ Managing Director and efforts to localize the automotive industry
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The meeting addressed the current status of General Motors’ investments worth $530 million and its future plans.
Dr. Mohamed Farid: The state attaches great importance to localizing industry, increasing exports, and attracting more foreign direct investment.
Developing a comprehensive framework of export incentives to establish Egypt as a regional hub for production and exports to regional and global markets.
General Motors’ Managing Director: Egypt is a key pillar in our long-term plan, and we are implementing a future strategy to launch more models and increase production capacity.
Dr. Mohamed Farid, Minister of Investment and Foreign Trade, held a meeting with Ms. Sharon Nishi, Chairwoman and Managing Director of General Motors Egypt and Africa, along with her accompanying delegation, in the presence of Dr. Gehan Saleh, Economic Advisor to the Prime Minister. The meeting discussed the state’s efforts and plans to localize the automotive industry and increase the sector’s contribution to GDP, as well as the company’s expansion plans in the local market.
During the meeting, Dr. Farid reviewed General Motors’ expansion plans in Egypt, in light of the state’s strong focus on localizing industry, boosting industrial exports, attracting more foreign direct investment, and enhancing the competitiveness of Egypt’s automotive sector and its feeder industries, thereby maximizing its contribution to the national economy.
The Minister emphasized the strategic relationship with General Motors, which has a long history in the local market, having successfully manufactured over one million vehicles over the years, providing about 1,300 direct jobs and more than 30,000 indirect jobs through its various investments. This reflects the company’s confidence in the Egyptian market and its capacity to absorb major, long-term industrial investments.
The meeting also addressed the current status of the company’s investments in Egypt, which have exceeded $530 million, including about $50 million in operating systems using robotics and advanced technology to enhance manufacturing efficiency. In addition, the local content ratio in some models has surpassed 60%, supporting the state’s plans to localize industry and increase reliance on domestic manufacturing components.
Dr. Farid stressed that the ministry is working on developing a comprehensive framework of export incentives to maximize Egypt’s strategic position as a regional hub for production and exports to African and Middle Eastern markets. He affirmed that improving the efficiency and competitiveness of locally manufactured products is one of the key factors supporting the penetration of Egyptian products into regional and international markets.
He confirmed continued coordination with General Motors and the provision of all necessary facilities to increase its investments in the automotive sector and expand industrial exports, in line with the state’s vision to localize industry and attract more investment.
For her part, General Motors’ Managing Director emphasized that Egypt represents a central pillar in the company’s long-term regional plans, given its strategic geographic location and qualified human resources. She noted that the company is implementing a future vision that includes launching new models aligned with market developments, increasing production capacity to meet local demand and boost exports, and injecting operational investments to enhance manufacturing efficiency.
She also highlighted that the company recently celebrated 100 years of presence in the region, starting from Egypt, which underscores the importance of the Egyptian market in its strategy and renews General Motors’ commitment to supporting industrial localization efforts and transforming Egypt into a regional hub for automotive manufacturing and exports to Africa and the Middle East.
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