Egypt Signs 3 Agreements for Automotive Manufacture with Local, Int'l Companies

PM Mostafa Madbouly witnessed on Wednesday the signing of three framework agreements for the manufacture of cars between the Egyptian government and a number of local and international companies.

The agreements were signed by representatives of the government, including Amr Noureddine, advisor to the CEO of the General Authority for Investment and Free Zones (GAFI), Al-Shahat Al-Ghatouri, representative of the Fund for Financing the Environment Friendly Automotive Industry, and Gomaa Madani, Head of the Automotive Industry Unit at the Ministry of Trade and Industry.

The companies representatives were Michael Whitfield, CEO of Nissan Egypt and Africa, Hisham Saeed Hosni, CEO of Stellants Egypt, and Ankush Arora, CEO of Al-Mansour Automotive Group.

It was pointed out that these framework agreements aim to achieve binding cooperation between representatives of the Egyptian government and companies to achieve the goals of the National Automotive Industry Development Program (AIDP).

On the sidelines of the signing, the Prime Minister affirmed that the signed agreements come in light of the government's interest in developing the automotive industry in Egypt, especially environmentally friendly cars, pointing out in this regard to the issuance of a law establishing the "Supreme Council for the Automotive Industry."