Trade Minister Engages With General Motors Egypt On Future Endeavours, Growth Strategies
Date
5/15/2024 1:13:47 AM
(MENAFN- Daily News Egypt)
Minister of Trade and Industry, Ahmed Samir, conducted a comprehensive dialogue with delegates from General Motors Egypt, a key player in the automotive sector. The discourse centred on the firm's ongoing ventures within the Egyptian marketplace and contemplated an array of prospective initiatives slated for the forthcoming phase.
Minister Samir conveyed that the assembly delved into the Egyptian government's strategic roadmap for augmenting the automotive sector and its ancillary industries. This approach is designed to satiate the domestic market's demands and facilitate exports to adjacent nations and the broader African diaspora.
Emphasizing the Ministry's commitment, Samir underscored the unwavering support for global automotive enterprises seeking to manufacture and broaden their footprint in Egypt. This support is pivotal in channelling substantive investments, fostering industry indigenization, and spawning employment opportunities for the youth.
The minister acknowledged General Motors as a vanguard in the global automotive arena, whose industry localization is of paramount interest to the Egyptian administration.
The Egyptian marketplace is endowed with the requisite capabilities and investment attributes to cultivate a bona fide automotive industry. This includes a robust consumer base, a pool of skilled labour, and a plethora of ancillary industries. Furthermore, Egypt's participation in an extensive array of free and preferential trade pacts with numerous nations and significant economic conglomerates empowers Egyptian goods to penetrate myriad international markets sans tariff barriers, as revealed by the minister.
Minister Samir implored General Motors Egypt to contemplate the inception of an electric vehicle manufacturing venture in Egypt. He projected that such an enterprise would be met with widespread endorsement and fervour within the country, particularly given the energy efficiency and environmental stewardship of electric vehicles.
Officials from General Motors Egypt articulated their intent to fortify the company's market presence in Egypt, recognizing it as a pivotal market within the Middle East and Africa.
They further disclosed that the company is meticulously evaluating several novel industrial propositions in Egypt, aimed at addressing the local demand and catering to overseas markets.
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