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8289 Subject |
استثمارات قووية في مصر لتصنيع السيارات وتوقعات بزيادة حجم التصدير Egypt Minister of Foreign Trade & Industry confirming Egypt is capable to lead the automotive industry in the Region. |
| Date Published | Thursday, April 07, 2005 |
| Source Name | Al Alam Al Yom |
| Location Name | Sharkiya |
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Description Date Format: (mm/dd/yyyy) |
While attending MCV celebrations of 10 years operations, Eng. Mohamed Rashid, Egypt Minister of Foreign Trade & Industry, has confirmed that the country is capable to lead the automotive industry in the (Middle East) region. The Minister noted that the region automotive market is growing by 500,000 – 600,000 vehicles annually, while stressing the success achieved by some companies in Egypt in both the commercial vehicles industry & the automotive feeder industry. On his side CEO of MCV, Eng. Karim Ghabbour, revealed that 60 % of MCV production of commercial vehicles is directed to cover requirements of Arab & East European markets. He further revealed that MCV is producing buses under 70 % local manufacture component and trucks under 65 % local component. He further disclosed that his company embarks on plans to double its production from 3,000 units to 6,000 units over the coming 3 years, including the doubling of exports. Development sends promising news to a long list of feeder industries and services being on MCV vendors’ list. |
| Sectors Section |
Beneficiary Sectors - Automotive & Construction Equipment Pickups & Trucks Buses, Minibuses & Microbuses |
