Minister of Trade and Industry Amr Nassar said on Tuesday that the Egyptian market has been attractive to investments in the field of engineering industries, particularly in the auto industry.
During the inauguration of the fifth annual Egypt Automotive summit, Nassar asserted that the ministry would invite global car companies to invest in the Egyptian market and use the capabilities of the state-owned El Nasr Automotive Manufacturing Company and the military production factories to produce cars with local components.
Nassar clarified that investment law No. 72 of 2017 provided incentives to investors in the car industry in the Egyptian market, aiming to raise the country’s GDP.
He added that the government would provide further incentives to global companies desiring to invest in Egypt’s auto industry.
Edited translation from Al-Masry Al-Youm