Egypt seeks effective car industry
Egypt, Economics, 12/29/2005

Egypt's Minister of Industry and Foreign Trade Rasheed Mohamed Rasheed received Thursday industry investors from the car assembly and suppliers.


Egypt wants to encourage car manufacturing, and is studying the industry and mechanisms to attract investors in this area, the minister indicated.

The minister said the success of the car assembly business in Egypt depends on increasing the percentage of locally produced components and their quality that needs to be up to international standards.

He indicated that the government will not make any sudden decisions or laws that negatively effect the development of the car industry and investors, but wants local components to increase to 45% of the final product.

Previous Stories:
  Egypt government supports car industry   (8/8/2005)
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  Sharaf: New plan to upgrade railways   (6/21/2005)
  Mubarak call on private industry to focus on research to solve problems   (3/8/2005)

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