Egypt inks 3 framework agreements for car manufacturing with international, local car companies

The Egyptian government signed Thursday three framework agreements for automobile manufacturing with the aim of to achieve bonded cooperation between Egyptian government representatives and companies, working to achieve the goals of the National Automotive Development Program.
The agreements were signed by representatives of the government, including Amr Noureldin, Legal Advisor to the CEO of the General Authority for Investment and Free Zones (GAFI).
The companies’ representatives were Michael Whitfield, CEO of Nissan Egypt and Africa, Hisham Saeed Hosni, CEO of Stellantis Egypt, and Ankush Arora, CEO of Al-Mansour Automotive Group.
The agreement according to Prime Minister Mustafa Madbouli who witnessed the signings, come in the light of the government’s interest in developing and developing the automotive industry in Egypt, especially environmentally friendly cars, which led to the issuance of Law No. 2075 of 2020 establishing the “Supreme Council for Automotive Industry”.
The Arab country has set to set up an “Eco-Friendly Automobile Industry Fund” aiming at developing and developing the automotive sector in Egypt, and developing the necessary resources to finance the environmentally-friendly automobile industry.