Major discussions on Thursday reaffirmed the state’s commitment to localising the auto industry and further improve the investment climate.
Minister of Industry Khaled Hashem convened an expanded meeting with Minister of Finance Ahmed Kouchouk and Minister of Investment and Foreign Trade Mohamed Farid to review the progress in implementing the National Automotive Industry Development Programme.
The meeting further addressed mechanisms to enhance coordination among government entities to create a more attractive business environment for automotive manufacturers.
Members of the Supreme Council for Automotive Industry and the Automotive Industry Unit attended the meeting.
The ministers agreed to establish a joint working group comprising representatives from the Automotive Industry Unit — affiliated with the Ministries of Industry, Investment and Foreign Trade, Finance, and Transport — and members of the Supreme Council for Automotive Industry.
The group will conduct a comprehensive review of all data related to the programme and hold consultations with automotive manufacturers operating in Egypt as well as targeted international companies.
The objective is to identify manufacturers’ needs, assess their perspectives on the current business environment, and evaluate proposals to enhance the programme’s flexibility in line with rapid developments in the sector, thereby increasing local component utilisation and deepening domestic manufacturing.
For his part, Minister Hashem stressed that the programme aims to boost exports and strengthen the global competitiveness of vehicles manufactured in Egypt while attracting major international automakers and component producers.
For his part, Minister Farid highlighted the strategic importance of the automotive sector and its supporting industries in meeting domestic demand and generating employment.
Minister of finance affirmed that localising the automotive industry remains a key government priority, noting that the national programme offers investment, tax, and customs incentives linked to manufacturers’ performance.
