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6.1 billion pounds invested in Egyptian automotive industry
Egypt, Business, 9/5/1998
Abdul-Moneam Saudi, the head of Egyptian Industrial Union and the head of the car producers' association, stated that the automotive industry is one of the targeted industries in the Egyptian union plan and the state's general plan, referring to the existence of 16 automotive companies in Egypt, in which more than 20,000 laborers work, that produce all kinds of products in 15 modern factories with investments that exceed more than 6.1 billion Egyptian pounds.
Saudi, who made the statements during a meeting with members of the Arab - German Trade Chamber, expected an increase in car sales in Egypt, as the cars in the year 1997 reached 1.13 cars for each thousand citizens.
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