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FinancialNews
26-03-18
Egypt:China's carmaker SAIC to establish factory
(MENAFN) Tarek Kabil,Minister of Trade and Industry of Egypt, has declared that SAIC Motor,a major carmaker in China,plans to build a car manufacturing factory in Egypt.
Kabil added that he has checked the benefits and inducements of Egypt's recently imposed law to boost full car industry,not only collective parts,with a deputation visit to SAIC,in Egypt .
Kabil confirmed that "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,"
The SAIC factory,to be established in Egypt,has put plans to become the main source of SAIC exports to Arab and African states which contracted free trade with Egypt,along with rising to the expectations of the Egyptian market.
MENAFN2603201800450000ID1096655977
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