Arab Finance: Lieutenant General Engineer Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport participated in the Ezz Al-Arab Al-Sewedy Automotive Group’s celebration of the opening of the Proton Saga car factory.
At the beginning of his speech during the opening activities, the Deputy Prime Minister for Industrial Development and Minister of Industry and Transport expressed his happiness to participate in this celebration held by the Ezz Al-Arab Al-Suwaidi Group, which is the exclusive agent for the Malaysian Proton brand, as the factory is scheduled to begin producing the car in December 2024.
The Minister stressed that Egypt and Malaysia have close relations at all levels, as Egypt is the fifth largest African trading partner of Malaysia, as the volume of trade exchange between the two countries has grown by 55% in recent years, and it has also achieved Egyptian exports to Malaysia A growth of 35%, and the most important of these exports were concentrated in phosphates, fertilisers, agricultural crops, and iron), while Malaysian investments in Egypt were concentrated in the sectors of oil, gas, electricity, contracting, tourism, and information technology.
The minister pointed out that Egyptian-Malaysian cooperation is currently taking a new form in one of the strategic industrial fields, which is the automobile industry, which represents an important step within the framework of the national strategy for the localization of the industry, as it entails the establishment of high-level feeder industries. This joint cooperation has resulted in the establishment of the Swedish Ezz Al-Arab factory, which targets… Achieving an annual production capacity of up to 40 thousand cars (and reaching 80 thousand cars at a later stage) with a local component of 48%, with an expected investment volume of 3 billion pounds, and the percentage of exports reaching 10% in the first year, increasing in the following years, in addition to the opportunities that the factory will provide. He created up to 300 job opportunities, pointing out that the automotive industry in Egypt aims to reach the economies of mass production and qualify to establish a real automobile industry instead of just assembling them, which contributes to pumping more local and foreign investments.
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