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Gamea discusses with German Lione expansion plans
26 April 2022  -  Organization :  -  Sector/Entity :  -  Category : Industry News

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The government seeks to turn Egypt into a regional automotive hub.

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 local market.

“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.


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