Egyptian Trade Minister Tarek Qabil announced that a French automaker is planning to set up a car assembly unit in Egypt which will operate using a high proportion of locally manufactured components, Amwal Al Ghad reports.
Following a meeting with the vice president of a French automotive firm, the minister said that Egyptian auto component firms will be contracted to cover the needs of the unnamed French automaker’s parent company and its branches.
According to Qabil, the government plans to develop the automotive industry in Egypt in an attempt to attract other international firms to the country. He added that at present, there are more than 15 firms working in the car assembly field in Egypt.