Minister of Investment and Foreign Trade Mohamed Farid reaffirmed the government’s commitment to localising the automotive industry, boosting industrial exports, and increasing the sector’s contribution to gross domestic product (GDP). This reaffirmation was made during talks on Tuesday with Sharon Nishi, Chairperson and Managing Director of General Motors Egypt and Africa.
During the meeting, Farid outlined the company’s expansion plans in the Egyptian market, highlighting the state’s prioritisation of industrial localisation and its ongoing efforts to attract greater foreign direct investment.
He stressed the importance of enhancing the competitiveness of Egypt’s automotive sector and its feeder industries to maximise their contribution to the national economy.
Farid also reasserted the strategic partnership with General Motors, pointing to the company’s long-standing presence in Egypt and its proven track record, having manufactured more than one million vehicles over the years. He noted that the company provides around 1,300 direct jobs and more than 30,000 indirect employment opportunities through its various investments, figures that underscore its confidence in Egypt’s market potential and its capacity to attract large-scale, long-term industrial investments.
The discussions further addressed the current status of the company’s investments in Egypt, which have exceeded $530 million, including approximately $50 million allocated to advanced operational systems based on robotics and modern technology. These investments have enhanced manufacturing efficiency and productivity, while the local component ratio in some models has surpassed 60 per cent, supporting the state’s strategy to deepen industrial localisation.
Farid added that the ministry is working to develop an integrated framework for export incentives to capitalise on Egypt’s strategic location as a regional hub for production and exports to African and Middle Eastern markets.
Nishi affirmed that Egypt represents a central pillar in the company’s long-term regional strategy, citing its strategic geographic location and skilled human capital. She noted that General Motors is pursuing a forward-looking vision that includes launching new models in line with market developments, as well as expanding production capacity to meet domestic demand and boost exports.
