Egypt Discusses Local Auto Manufacturing with Toyota Tsusho, Eyes New Japanese Investments

In a move that aligns with Egypt’s ambition to become a regional hub for automotive manufacturing, Dr. Badr Abdelatty, Minister of Foreign Affairs, International Cooperation, and Egyptian Expatriates, met with the head of Japan’s Toyota Tsusho Group. The discussions focused on expanding the group’s investments in Egypt, supporting local manufacturing projects, and facilitating technology transfer.

Localization as a National Priority

During the meeting, the minister emphasized that localizing the automotive industry is a top priority for the Egyptian state, outlining the incentives the government has introduced to support the sector. He expressed Egypt’s eagerness to deepen cooperation with Toyota Motors in areas such as local manufacturing, feeder industries, and the establishment of regional supply chains originating from the Egyptian market.

Japanese Industrial Zone in the Suez Canal Area

The talks also covered efforts to establish a Japanese industrial zone within the Suez Canal Economic Zone. Toyota Tsusho is expected to play a key role in attracting more Japanese companies to Egypt, leveraging the competitive advantages offered by the local market.

Praise for Existing Partnership

Abdelatty commended the existing partnership with the Japanese group, highlighting its importance in supporting Egypt’s automotive sector and Japanese industries in the country. He also reviewed the positive developments in the Egyptian economy and the reforms that have enhanced its competitiveness and appeal for foreign investment, particularly in manufacturing, renewable energy, and infrastructure.