President Abdel-Fattah El-Sisi directed the launching of the presented strategy, within the framework of the state’s plan for the auto industry in Egypt and Egypt’s 2030 vision and its developmental, environmental and economic dimensions, and to consolidate the trend towards increasing dependence on new energy sources from natural gas and electricity as an alternative to traditional fuel, in an effort to stimulate the localization of the industry The means of transportation and feeding industries have them locally, in order to reach the largest possible rates of local production and production for cars and mass transportation vehicles, especially those that operate with electricity, in order to keep pace with the future prospects of that industry.

This came during President Abdel Fattah El-Sisi’s meeting today with Dr. Mostafa Madbouly, Prime Minister, Ministers of Electricity and Renewable Energy, Military Production, Finance, Public Business Sector, Transport, Trade and Industry, Chairman of the Arab Organization for Industrialization, and Chairman of the Administrative Control Authority.

Ambassador Bassam Rady, the official spokesman for the Presidency of the Republic, said that the meeting dealt with a review of the national strategy for the settlement of the vehicle and feeder industries in Egypt.

The meeting discussed the presentation of various axes of the strategy of localizing the auto industry in Egypt, including deepening local manufacturing and preserving existing investments and attracting other foreign investments, as well as a gradual transformation of the use of sustainable transportation that consumes natural gas, according to the national project to convert mass transportation vehicles to work with gas, as well as Dependence on the use of electric cars, in order to keep pace with the global progress in the automotive industry and preserve the environment.

The meeting also witnessed the presentation of the axes of the strategy, especially with regard to approving the required policies, preparing the necessary infrastructure, providing the legislative environment and related investment incentives, as well as adopting mechanisms to stimulate the demand for electric vehicles and those that operate with natural gas.