The Egyptian Prime Minister Mostafa Madbouly said that the state issued a comprehensive strategy for the advancement of the automotive sector, benefiting from valuable information and technical support from the auto manufacturers in South Africa.
This came during his meeting with officials of the the National Association of Automobile Manufacturers of South Africa (NAAMSA).
The Prime Minister added that a new law was issued last October, which provided for the formation of two main entities to maintain coherent, consistent and dynamic policies for the automotive sector, pointing out that these two entities are the Supreme Council of Automobiles, and is specialized in strategies, approves and evaluates programs related to supporting the Egyptian automobile industry as well as sustainable transformation in the field of transportation in general.
He continued: As for the second entity, it is the Environmentally Friendly Automobile Industry Fund, which was established under the same law to ensure a continuous flow of funds to support environmentally friendly car manufacturing programs.
"There is a great opportunity to reproduce this model in Egypt, which has all the necessary ingredients to create a car industry."
During the meeting, the Prime Minister listened to an explanation about the auto industry in South Africa, which represents 4.9% of the gross national product (GNP), and about 12.4% of the country's exports, as about 352,000 cars are exported annually to 152 countries.
Commenting on this, the Prime Minister indicated that there is a great opportunity to replicate this model in Egypt, which possesses all the necessary ingredients to create a promising car industry.
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