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Egypt is holding talks to set up automobile assembly lines: minister

Monday 03 December 2018 11:27 PM

Amro Nassar
Amro Nassar

By Mohmed Rehan
The Egyptian government is  holding talks with International and European automakers to  shore up Egypt-based automobile assembly lines , according to Industry and Trade Minister Amro Nassar, expecting identities of up to three companies to be unveiled in the span of 4 to 5 months. 
" Ministry of Industry and Trade is learning lessons from successful  experiences in Morocco and Slovakia  with the aim of manufacturing especially electric cars, whose infrastructure and pertinent
legislation are targeted  by Egypt to be put in place in order to  create a solid industry capable of manufacturing and assembling autos," said Nasser in speech he delivered at the 5th CEOs Thoughs Conference organized by Al-Mal GTM. 
 The  Egyptian government can help create  a domestic auto industry  only through incentivizing investors, he said, dismissing  the state may sponsor a strategy for supporting auto manufacturing. 
" Some countries are providing incentives only to one, or two at best, automakers for any progress to be made, as Egypt's Nasr Car Company is well placed to be a starting point with it functioning currently  as an assembly plant."