Daily News Egypt

Egypt's feeding industries to implement automotive industry strategy when approved: experts - Daily News Egypt

Advertising Area




Advertising Area




Egypt’s feeding industries to implement automotive industry strategy when approved: experts

The feeding industries are the most important pillar in large industries, such as the automotive industry, according to vice chairperson of the Chamber of Engineering Industries Abdel Moneim El-Kady. He believes that the automotive industry strategy, which is currently being studied by the parliament, will improve the feeding industries. The strategy approves the increase of …


The feeding industries are the most important pillar in large industries, such as the automotive industry, according to vice chairperson of the Chamber of Engineering Industries Abdel Moneim El-Kady.

He believes that the automotive industry strategy, which is currently being studied by the parliament, will improve the feeding industries. The strategy approves the increase of the industries’ production because it aims to raise the amount of local components used in car manufacturing by companies that want to invest in Egypt.

He added that it is important for the feeding industries to continue producing with the aim of exporting, even if there are no companies using their products.

Ahmed El-Mufti, commercial director of East Port Said Development, said that the company is currently working on developing the area, which is promising and would help investors produce in Egypt, due to the services the company provides investors.

He added that the company also provides other services, such as healthcare and transportation, aiming to attract investors.

Jean-Michel lsambert, Middle East and Africa department procurement manager at Peugeot-Citroën, said that the company views Egypt as a very competitive market, adding that the new automotive industry strategy has started to create initiative and stability in the market.

He added that if the strategy is approved, the chances for investment will increase.

Bassim Matta, the regional director at Methode Electronics, said that the company started producing in Egypt instead of the Philippines, adding that he believes Egypt is a very important and competitive market in the region, due to the cheap labour.

Chahir Greiche, vice president of Dr. Greiche for car components, said that his company started to invest in Egypt directly after the 25 January Revolution 2011 out of belief in the Egyptian market.

Tamer El-Shafie, head of Feeding Industries Division at the Chamber of Engineering Industries, believes that the strategy exerts pressure on manufacturers in the local feeding industries, regardless of its implementation, because it emphasises increasing local production. This means that manufacturers have to work harder.

He added that if the strategy is implemented, it would increase production, create more jobs, and more new components in Egypt, which would increase exports and create even more jobs.

He noted that the feeding industries, whether private or public, would implement the strategy as fast as possible if approved, saying: “We are more flexible and faster than other governmental institutions and other industries.”

Advertising Area




http://www.dailynewsegypt.com/2016/12/13/egypts-feeding-industries-implement-automotive-industry-strategy-approved-experts/
Breaking News

No current breaking news

Daily News Egypt Android App Available for free download on Google play
View
Daily News Egypt Ios App Available for free download on APP Store
View