Al-Wazir underscored the strong economic relations between Egypt and Germany, particularly in industry and transport. He praised German industry as a model for advanced manufacturing that Egypt is eager to adopt for its local sector.
Highlighting investor confidence, the Minister announced
that German company Leoni, specializing in electrical wiring harnesses for
vehicles, will inaugurate its second Egyptian factory—established a year ago—in
Al-Rubiki Leather City within days.
The Ministry welcomes cooperation with global and German
companies interested in car manufacturing investments. Al-Wazir asserted that
Egypt is fully qualified to be a regional automotive hub, citing its large
consumer market, free trade agreements for export, a stable economy, a
simplified system for industrial land allocation, skilled labor, and protective
investment laws. He noted that numerous international car manufacturers,
including Mercedes, BMW, Nissan, and Hyundai, already operate in the Egyptian
market.
The government is committed to supporting car manufacturers,
having recently launched the National Automotive Industry Development Program
which offers investors a significant incentive package.
In the transport sector, cooperation projects are moving
forward rapidly, encompassing the management and operation of container
terminals in ports and digging metro tunnels.
For his part, the German ambassador to Cairo stressed that German investors across all company sizes show great interest in Egypt. He also commended Egypt's organization of the Sharm El Sheikh Peace Summit, which was attended by the German Chancellor, who met with President Abdel Fattah El-Sisi to discuss future bilateral cooperation.