Minister of Investment: Establishing Clear Policies to Regulate the Automobile Sector in Egypt

Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade, recently led an extensive meeting with the managing directors of global automobile companies, as well as agents, distributors, and car dealers.

The main focus of the discussion was the localization of the automobile industry in Egypt and addressing the challenges the sector faces.

This meeting aligns with the state’s current strategy to localize the automotive industry and build a strong export base.

The Minister emphasized the critical role the automotive sector plays in Egypt’s economic development, highlighting its potential to attract foreign investments and promote local manufacturing.

Al-Khatib also stated that the Egyptian government is committed to establishing transparent policies and clear standards to regulate the sector effectively.

Additionally, he mentioned ongoing efforts to implement further financial and procedural reforms, aimed at providing more support for local investors and improving Egypt’s foreign trade capabilities.

He further pointed out that Egypt offers several competitive advantages in the automotive industry, positioning the country as a favorable destination for investment compared to other markets.

The Ministry’s current priorities include reducing customs clearance times and easing tax and financial burdens on investors.

During the meeting, Al-Khatib listened to feedback and suggestions from the various agents, distributors, and car dealers, as they discussed strategies to overcome challenges and drive growth in the sector.

The meeting was attended by key officials, including Dr. Jihan Saleh, Advisor to the Prime Minister; Mr. Ahmed Al-Wakeel, President of the Federation of Chambers of Commerce; Dr. Alaa Ezz, Secretary-General of the Federation of Chambers of Commerce; and Dr. Amani Al-Wasal, Head of the Agreements and Foreign Trade Sector.