Egyptian Businessmen Association Chief: Egypt Has the Expertise to Build a Fully Integrated Car and Export It Globally

Engineer Ali Eissa, head of the Egyptian Businessmen Association, praised the efforts led by Prime Minister Dr. Mostafa Madbouly to support and localize the automotive industry. He emphasized that this sector is one of the most strategic industries capable of enhancing Egypt's industrial standing regionally and internationally, while driving economic growth in the coming years.

Boosting Investment and Local Manufacturing

Eissa noted that the automotive industry is a key indicator of a nation's industrial advancement. He explained that the association, which brings together leading investors and manufacturers from both the public and private sectors, continues its efforts to attract foreign investment and global companies specializing in automotive components. This aligns with the state's plans to deepen localization and increase local manufacturing ratios.

Egypt's Long Automotive History

He pointed out that Egypt has a long history in car manufacturing, dating back to the era of the late President Gamal Abdel Nasser, when the country produced the 'Ramses' car and assembled several global models, including the Fiat 1100 and Fiat 1300, which relied on imported components from Italy.

A Renewed Vision for the Sector

The association chief affirmed that the Egyptian state, under President Abdel Fattah El-Sisi, has revived the automotive file as part of a vision to transform Egypt into an advanced industrial base and a regional production hub for cars, supporting the national economy and boosting the competitiveness of Egyptian industry.

Realistic Goals for Local Content

Eissa stressed that the current focus should be on gradually increasing the percentage of local components rather than immediately aiming for a 100% Egyptian-made car. He stated that reaching local content levels between 70% and 80% is a realistic and achievable target in the near term, with plans to complete the full localization system in the coming years.

He also noted that some high-cost components may be more economical to import than to manufacture locally at present, helping to balance deepening local industry with cost efficiency. He confirmed that government incentives for manufacturers and suppliers of feeder industries will significantly boost local content ratios.

Optimism for a Quick Transformation

Eissa expressed optimism about Egypt's ability to achieve a breakthrough in the automotive sector within a short period, reaching 70-80% local content in car production, while strengthening its position as a regional hub for exporting locally manufactured cars to global markets.