The Minister of Commerce and Industry is discussing with two of the largest Indian auto and auto spare parts manufacturing companies opportunities and elements of investment in the Egyptian market
Eng. Ahmed Samir, Minister of Trade and Industry, met the delegations of two Indian companies specialized in the fields of manufacturing vehicles and auto spare parts, where they reviewed the opportunities and elements of investment in the Egyptian market, as well as the possibilities of establishing projects for the two companies in Egypt in the fields of manufacturing electric vehicles, passenger trucks, and the production of auto parts. The two meetings were attended by the Minister, Commercial Commissioner/ Yehia Al-Wathiq Billah, Head of Commercial Representation. 2023
The minister said that the first meeting included a delegation from the global Indian company, Hinduja, headed by Mr. Amandeep Singh, the company’s international operations officer. On the environment, pointing out that the Egyptian government has succeeded during the past years in intensifying work to provide the necessary infrastructure for electric vehicle charging stations, and the establishment of these stations is being expanded.2023
Samir explained that the company held meetings with government officials to discuss the company’s desire to cooperate with El-Nasr Automotive Manufacturing Company regarding joint manufacturing of cars and the possibility of cooperation in the manufacture of electric trucks in East Port Said.
The minister drew attention to the possibility of the company benefiting from the advantages offered by the free trade agreements signed between Egypt and a large number of countries and regional and global economic blocs, especially the free trade agreement. The African continent, which provides a large and promising market for companies investing in the Egyptian market. The international operations of the Indian global Indian company Hinduja that the company has a long history in the field of manufacturing cars, especially electric cars, and operates in a large number of countries in the world, indicating that the company is studying the establishment of a factory for it in Egypt to be a hub for manufacturing and export in the Middle East and Africa. The Minister also met with the delegation of the Indian company Maserson for the production of auto parts, headed by Mr. Sanjeev Bhatia, Chief Operations Officer of the company, where he reviewed the meeting The capabilities and components of the Egyptian market in the field of car production and its components. Domestic and foreign investment through the ministry and its affiliated agencies and in cooperation with all ministries and concerned authorities in the country, pointing out that the automotive industry strategy provides distinguished incentive packages for international companies to invest in the Egyptian market in the field of manufacturing cars and the industries that feed them.
For his part, Mr. Sanjeev Bhatia, Chief Operations Officer of the Indian company Maserson for the production of auto parts, expressed the company’s aspiration to invest in the Egyptian market and place it on the company’s global production map, as one of the The most important distinguished investment destination in the region and a hub for export access to a large number of global markets, indicating that the company acquires a large market share in the global supply chains in the field of auto spare parts, and also has investments in Europe, India and the Americas.