Cairo: Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir affirmed that the ministry welcomes any serious and constructive cooperation with global and German companies interested in making new investments in Egypt's automotive manufacturing sector. Wazir made the remarks during a meeting with German Ambassador in Cairo Jrgen Schulz, noting that the meeting aimed to strengthen cooperation between the two countries in the fields of industry and transport.
According to State Information Service Egypt, the minister highlighted that Egypt possesses all the key factors to become a regional hub for automobile manufacturing, including a large domestic consumer market and Egypt's network of free trade agreements that allow vehicles to be exported worldwide. He added that Egypt has a strong, secure, and sustainable economy, supported by an efficient system for allocating industrial land to investors, a trained and skilled workforce, and laws and regulations that protect the interests of both Egyptian and foreign investors.
Several international automotive manufacturers, including Mercedes, BMW, General Motors, Nissan, Peugeot, Hyundai, GM, BYD, Foton, and Geely, are already operating in the Egyptian market. Wazir also noted that the German company LEONI, specializing in automotive wiring, signed a contract in 2017 to establish a factory in the Robbiki Leather City (RLC), which has now been fully prepared and is set to open within days. This will be the company's second facility in Egypt, reflecting German investors' confidence in the Egyptian economy.
The minister stressed that automotive manufacturers in Egypt receive full support from the government. He noted that the Ministry of Industry recently launched the "National Program for the Development of the Automotive Industry," also known as the Automotive Industry Development Program (AIDP), offering investors a comprehensive package of incentives.
He further noted that joint projects between Egypt and Germany in the transport sector are progressing steadily, including container terminal management at ports, metro tunnel construction, and other major infrastructure projects. For his part, Ambassador Schulz highlighted the strong interest of German investors, whether large, medium, or small companies, in investing in Egypt. He also commended Egypt's efforts in hosting the Sharm El Sheikh Peace Summit, attended by heads of various countries, and noted that the German Chancellor valued the opportunity to meet with President Abdel Fattah El Sisi to discuss the future of bilateral cooperation.