Boosting the local car manufacturing potentials within the framework of the national strategy for developing this industry including through partnering with the private sector was the topic of consideration during a meeting that Prime Minister Moustafa Madbouli held with senior aides and representatives of local car makers.
The Cabinet ministers of industry and public sector business, the executive director of the Industry Modernisation Centre and official from the Higher Council for the Auto-Industry attended the meeting. Also taking part in the meeting were representatives of the Nasr Car Making Company and al-Mansour Automotive Company (MAC).
At the outset of the meeting, Prime Minister Madbouli stressed that the national strategy for the development of the car industry aims mainly at deepening the local bases of this industry, a Cabinet statement said.
In this context, the prime minister expressed appreciation for MAC’s activities in Egypt and its ability to spread widely in the Egyptian market over the past period, the Cabinet said in its statement.
He also expressed hope that the company would become an essential partner in the implementation of the national strategy that the state pursues for consolidating the local car-manufacturing capabilities.
In a briefing to the meeting, MAC Executive President Ankush Arora outlined the company’s plan to expand its operations in the Egyptian market during the next stage, referring in this briefing to the new products that the company intends to manufacture in Egypt.
MAC, Arora said, is proceeding in the executive stages of producing a new model belonging to MG Company, with the production process scheduled to kick-start in the first quarter of 2025. The project, he explained, involves direct foreign investments amounting to $20 million and would generate some 5,000 direct and indirect job opportunities.
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