Egyptian Minister of Trade and Industry, Neivin Gamea on Tuesday met with a delegation from Mercedes-Benz Egypt headed by the President and CEO of the company Gerd Bitterlich to discuss localizing the electric car industry in Egypt.
A statement by the ministry said that the meeting also discussed the company’s current and future projects in the Egyptian market.
Gamea said that the ministry is eager to encourage foreign investments operating in Egypt and the growth of its business in light of the favorable business environment that Egypt currently enjoys, as well as the steps taken by the state to enhance the investment climate and localize its automobile industry.
She assured the government’s willingness to overcome all obstacles facing investors, which would contribute to making Egypt a focal point for foreign investments and increasing the flow of exports to foreign markets.
Gamea added that the political leadership in Egypt pays great attention to stimulating the localization of the auto industry and the industries that feed it locally, to reach the largest possible proportion of local manufacturing and production.
The Egyptian market has all the ingredients that qualify it to become a major center for the manufacture of cars in the Middle East and Africa, she added.
Bitterlich confirmed that the company supports the Egyptian government’s directions towards the localization of the automobile industry, and considers Egypt a promising market and an important hub in the Middle East for the manufacture of Mercedes-Benz cars.
The company witnessed great growth in the Egyptian market during the past few years, he noted, with its logistic center is currently being completed in the Suez Canal Economic Zone on an area of 20,000 meters.
“The company has also increased the number of its agents in the Egyptian market to reach 5 authorized distributors, including 12 sales and after-sales showrooms across the country, in addition to the local manufacture of GLE and GLS SUVs, which reflects the international company’s interest in expanding its business in the Egyptian market during the current stage,” he added.