Egypt is set to launch soon a national strategy for developing the automotive industry, which includes incentives to locally manufacture electric vehicles.
Prime Minister Mostafa Madbouly reviewed in March the final draft of the strategy, through which Egypt will establish itself as the main gateway for emerging vehicle markets in Africa. Egypt aims through the new strategy to build strong commercial and investment relations with the main regional trade partners to ensure sustainable development growth for both sides, according to a cabinet statement.
The initial scope of the new strategy dubbed: the Egyptian Automotive Industry Development Program (AIDP) includes providing the required framework to develop existing car assembly and manufacturing capabilities and encourage new investment in this sector.
Watch the video below for the main takeaways of the yet-to-be-launched strategy.