New strategy to localize Egypt’s auto industry offers incentives of up to 80% of investment

The story in brief

Khaled Saeed, head of the Automobile Manufacturers Association, said locally made components account for 45% of passenger cars and 60% of transport vehicles and minibuses in Egypt, with a plan to raise the shares gradually in the coming years. The incentive scheme allows manufacturers to recover 60% to 80% of their investments, subject to requirements and localization levels, while the strategy aims to expand domestic production and exports.