Government activates localization law of auto industries in Egypt: Prime Minister

Daily News Egypt
3 Min Read

Egypt’s Prime Minister Mostafa Madbouly said that the government will follow up daily on the implementation of the auto industry localization strategy on the ground.

He explained that a new custom tariff was issued, and a draft law was formulated to activate incentives for localization and deepening of the automobile industry in Egypt.

Madbouly pointed out that the volume of Egypt’s imports of cars last year exceeded $4bn, explaining that the number of cars made in Egypt will double within the next 10 years.

On Tuesday morning, Madbouly arrived in Port Said to visit the East Port Said Integrated Zone, affiliated with the Suez Canal Economic Zone, accompanied by Kamel Al-Wazir, Minister of Transport; Adel Ghadban, Governor of Port Said; Osama Rabie, Head of the Suez Canal Authority; Yehia Zaki, Executive Director of the Suez Canal Economic Zone; and Ihab El-Far, Head of the Engineering Authority of the Armed Forces.

Madbouly stressed that this visit comes within the framework of the Egyptian state’s interest in the economic zone, which is one of the arms of the Egyptian state to achieve development, through its capabilities and competitive advantages, foremost of which is its industrial zones and its affiliated ports, stressing the full support provided by the political leadership to the region. economic, pointing to the importance of the developmental role it plays.

The Prime Minister began the tour by visiting the East Port Said Port, where he inspected the western berths in the port, to follow up on the latest developments in the ongoing development work there, and listened to a detailed presentation from Engineer Yahya Zaki, who indicated that “East Port Said Port” is one of the most important ports in the Mediterranean, due to its location. It is distinguished at the northern entrance to the Suez Canal, where the port contains container berths with a length of 7.4 km and a draft of 18-metre depth.

The economic zone has carried out many infrastructure works related to raising the port’s efficiency, through soil improvement works, the implementation of trading yards for new berths, add to water, sewage, and communications works.

The new sidewalks, after the completion of the implementation of the yards, witnessed many contracts, most notably the contract of the largest Japanese-French alliance to establish a vehicle rolling station (RORO), a station dedicated to cars (Suez Canal Station for Car Trading), and it will be managed by a French-Japanese alliance, which achieves the economic objectives of the Suez Canal work to meet the needs of the local and regional market from these projects.

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