The government seeks to turn Egypt into a regional automotive
Cairo- Apr 26, 2022
Minister of Trade and Industry
Nevine Gamea has met with a delegation from Leoni, a German global supplier of automotive
cables, led by Chief Operating Officer Ingo Spengler and with the participation
of Country Manager Anis Kammoun, to discuss the company’s expansion plans in the
“The government seeks to develop Egypt’s
carmaking industry through enhancing its competitive advantages, with the aim
of turning the country into a regional automotive hub,” Gamea said.
She noted that the Egyptian
Automotive Industry Development Program (AIDP) is currently being finalized,
which would offer various incentives to car manufacturers, especially electric
vehicles (EVs) and their feeding industries.
Spengler, for his part, stressed
the firm’s keenness to bolster its presence in Egypt, being one of the key
markets in the region, and boost its exports which amounted to €100 million in 2021.