Sigma Capital

22-10-2024

Minister of Investment and Foreign Trade meets with agents and distributors of international car companies to discuss localizing the car industry in Egypt

Source: MIST

Eng. Hassan El Khatib, Minister of Investment and Foreign Trade, held an extensive meeting with the managing directors of international car companies, car agents, distributors and dealers, to discuss the localization of the car industry in Egypt and the challenges facing the sector, within the framework of the state's current approach to localizing this industry and creating an export base.

The Minister stressed that the Egyptian government pays great attention to the car sector, as this vital sector is of great importance for attracting foreign investments and localizing the industry.

"El Khatib" pointed out that the ministry is working to develop transparent policies and clear standards with the aim of regulating the sector in Egypt, adding that the government is working to implement more reforms and financial and procedural policies, which will provide more facilities for local investors and facilitate the movement of foreign trade in Egypt.

The Minister pointed out that the Egyptian market enjoys competitive advantages and elements, compared to other countries, which the ministry seeks to exploit to attract more investments, indicating that the ministry's current priorities are to work on reducing the customs clearance period, in addition to reducing the tax and financial burdens on investors.
Al-Khatib listened to the suggestions of agents, distributors and car dealers on pushing towards removing all challenges facing this vital sector and developing it. The meeting was attended by Dr. Jihan Saleh, Advisor to the Prime Minister, Mr. Ahmed Al-Wakil, Chairman of the Federation of Chambers of Commerce, Dr. Alaa Ezz, Secretary-General of the Federation of Chambers of Commerce, and Dr. Amani Al-Wasal, Head of the Agreements and Foreign Trade Sector.