The meeting is part of the government's efforts to boost local manufacturing and localize production chains, with a specific focus on strategic industries such as iron, steel, and automotive manufacturing.
Al-Wazir emphasized the government's commitment to the iron
and steel industry, which he described as a crucial foundation for many vital
sectors, including the automotive industry. He stated that localizing the
production of car body panels is a top priority, as it will significantly
reduce import costs, increase the local component in manufactured goods, and
enhance the competitiveness of Egyptian products.
The Minister outlined a comprehensive strategy for
localizing the industry, focusing on two main pillars: sustainable laws,
incentives, and implementation plans to create an attractive investment
climate, and a focus on leveraging local human resources and capabilities with
a clear timeline.
Al-Wazir said the ministry will continue to coordinate with
both the private and public sectors to ensure the efficient and rapid
implementation of this national initiative. He added that localizing the
production of car body panels is a crucial first step toward expanding local
manufacturing of automotive components and fostering new industrial
partnerships.
He highlighted that the domestic market has significant
demand that can support various feeder industries. Egypt already produces and
exports some automotive components, demonstrating the quality and
competitiveness of its national industry. El-Wazir also noted promising
opportunities to localize the production of new essential components such as
tires, glass, and car body panels.
During the meeting, steel manufacturers presented their
views on the feasibility of supplying raw materials for car manufacturing and
the flexibility of forming the steel to meet different vehicle requirements.
Discussions also covered the manufacturing of external body panels, design
requirements, and technical specifications, as well as production targets under
the government's plan.
Al-Wazir announced an upcoming meeting with vehicle
manufacturers and feeder industries to further technical discussions and align
local steel production capabilities with the technical specifications of car
manufacturers. He directed increased coordination and cooperation between steel
producers, car assemblers, and feeder industries to ensure supply chain
integration and accelerate industrial localization.
He concluded that localizing the production of car body panels
not only represents a qualitative leap in increasing local content but also
enhances the viability of incentives for the automotive industry in Egypt,
boosting its regional and international competitiveness.
Representatives from steel and automotive companies praised the ministry's initiatives, stating that they reflect a genuine national will to deepen local manufacturing, reduce import bills, and boost export opportunities, solidifying Egypt's position as a promising regional industrial hub for automotive manufacturing and its components.