Egyptian Prime Minister Mostafa Madbouly chaired a high-level meeting on Tuesday to review opportunities for localizing the automotive industry and enhancing the competitiveness of free zones, as part of the government’s broader strategy to strengthen industrial development and attract foreign investment.
The meeting was attended by Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport; Ahmed Kouchouk, Minister of Finance; Hassan El-Khatib, Minister of Investment and Foreign Trade; along with senior officials from relevant ministries.
During the meeting, the Prime Minister reaffirmed the government’s strong commitment to localizing automotive manufacturing in Egypt by attracting major global carmakers under the national automotive industry program. He emphasized the strategic importance of focusing on electric vehicles and their components, in line with global trends toward clean energy, sustainability, and reduced reliance on conventional fuels.
Government Spokesperson Mohamed El-Homsany stated that the meeting reviewed the key pillars of Egypt’s plan to build a robust domestic automotive base capable of meeting local market demand while expanding exports. Discussions also covered the current share of electric vehicles in the domestic market and projected growth rates in the coming years.
The meeting further examined investment proposals submitted by major international companies seeking to enter the Egyptian automotive market. Officials reviewed incentive packages and facilitation measures offered by the state to encourage global manufacturers, support deeper local manufacturing, and accelerate the transition toward more sustainable transportation solutions.
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