Sisi: Egypt seeks developing automotive industry

President Abdel Fattah El Sisi said Friday Egypt seeks to develop its activities in the automotive industry.

Meeting BMW chairman Harald Kruger in Munich, the president added that Egypt is interested in exploring modern future prospects enjoyed by the field in light of attracting factors to foreign investments available in the Egyptian market, including a legislative framework stimulating investments, new and evolving infrastructure, alongside trained and low-cost technical labor.

“Egypt is one of the largest Middle East and Africa markets, with access to the most important foreign markets through trade agreements with many countries and economic blocs,” Sisi told Kruger.

In turn, the BMW chief hailed his company’s successful activity and history in Egypt, reviewing his vision regarding modern transportation systems, including electric cars.

The meeting also discussed the company’s future plans for cooperation with Egypt, presidential spokesman Bassam Rady said in a statement.

Source: State Information Service Egypt