Minister of Industry and Trade Tarek Kabil said that the ministry is about to sign a contract with a German expert that is specialised in the formulation of strategies for the auto industry that participated in similar strategies in South Africa and Morocco. This is in order to benefit from his expertise in the strategy of the auto industry and its feeding industries. He added that the ministry aims to establish a real car industry in Egypt based on production, pointing out that there are a number of major global car production companies that await the issuance of the strategy to take the decision to invest in this strategic sector. Moreover, Kabil stressed the commitment of the authorities to protect industrial sectors, as industry will be the main driver of economic growth in the coming period. He also noted that the ministry seeks to provide the basic need of the industry sector, especially regarding the provision of industrial land, confirming that the ministry will withdraw land from investors that are not serious—those who have purchased land and have not shown any signs of seriousness in establishing new factories.

Source: Daily News Egypt July 06, 2017 13:18 UTC