SAIC to set up car plant in Egypt
Print Edition
SAIC Motor seeks to set up a car-making factory in Egypt, the country’s Minister of Trade and Industry Tarek Kabil said on Sunday.
Kabil said in a statement that he reviewed with a visiting SAIC delegation the advantages and incentives provided by Egypt's newly approved investment law to encourage full car manufacturing, not just assembling parts, in Egypt.
“The Ministry of Trade and Industry is ready to provide all support and assistance to help SAIC Motor enter the Egyptian market for auto manufacturing, especially in light of the state’s current policy that targets boosting auto manufacturing and putting Egypt on the map of this industry,” Kabil said.
The factory that SAIC seeks to build in Egypt aims to not only meet the needs of the Egyptian market but also become a central point of SAIC exports to Arab and African states that have free trade agreements with Egypt.
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