China’s largest automotive company, SAIC Motor planning to build manufacturing factory in Egypt to support Africa and Middle East markets. Egypt’s Minister of Trade and Industry, Tarek Kabil said, “A delegation from SAIC explored a new Egyptian investment law that not only supports in terms of assembly but encourages full-car manufacturing in Egypt.” Kabil stated that he reviewed the advantages and incentives provided by the company.
Tarek Kabil said, “The Ministry of Trade and Industry is ready to provide all support and assistance to help SAIC Motor enter the Egyptian market for auto manufacturing, especially in light of the state’s current policy that targets boosting auto manufacturing and putting Egypt on the map of this industry.”
SAIC’s proposed production line in Egypt would not just help the Middle East and Africa that have free trade agreements with Egypt country yet in addition address issues of the Egyptian market.
The executive director of SAIC Motor’s international department, Yang Xiaodong stated that company planning to make a presence in Egypt country just because Egyptian market is known as one of the most promising in the Middle East and Africa, also company believes in the strength of the Egyptian market.
Addition to this, Yang Xiaodong said that SAIC firm communicating with Egypt’s largest automobile companies for products distribution but still, it is unclear when the production might start. China’s government encouraging its companies to develop business in other countries.
SAIC Motor Corporation Limited is China’s biggest carmaker in terms of revenue. The automaker selling about 6.9 million vehicles in 2017 alone.