Cairo – October 22, 2024: The Ministry of Investment and Foreign Trade is working diligently to implement transparent policies and clear standards aimed at regulating the automotive industry in Egypt, with Minister of Investment and Foreign Trade, Hassan El-Khatib, adding that ongoing financial and procedural reforms are underway to provide further facilitation for local investors to localize the industry and to enhance the country’s foreign trade activities. The investment minister held an extensive meeting with representatives of global car manufacturers, agents, and distributors to bolster Egypt's automotive industry on Tuesday. During the meeting, Minister El-Khatib emphasized the government's deep commitment to the automotive sector, recognizing its key role in attracting foreign investments and promoting industrial growth. Among the ministry’s immediate priorities is reducing customs clearance times and alleviating tax and financial burdens on investors. Representatives from the automotive sector shared their suggestions on overcoming the challenges facing the industry and advancing its development during Tuesday’s meeting.

Source: Egypt Today October 22, 2024 18:01 UTC