(MENAFN- Daily News Egypt) The auto industry is one of the most important strategic sectors in Egypt's national economy, especially that it is the catalyst for development of more than 13 industrial sectors and offers 86,000 direct and indirect jobs, with investments accounting for $3bn, said Minister of Industry and Trade Tarek Kabil during the opening of the twenty-fourth session of the Automech Formula Exhibition. The exhibition which will be held from 20-23 September at the Cairo International Conference Center with the participation of 24 car companies.
Egypt has all the capabilities and qualifications needed to establish an auto industry, Kabil explained. He added that the auto industry strategy adopted by the ministry currently includes huge stimuli aimed at the development of this strategic industry to build a major industrial hub in the region of the Middle East and Africa.
Kabil added that the exhibition is a real opportunity and forum for all car manufacturers and feeder industries to exchange views and experiences that contribute significantly to the development of this vital sector in Egypt and the competition between the companies working in this sector in the Egyptian market.
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