Arab Finance: Geely Auto Group is inaugurating a car manufacturing factory in Egypt, in partnership with Auto Mobility, according to an official statement.

During a meeting with Prime Minister Mostafa Madbouly to discuss Geely Auto’s plans in Egypt, the company’s chairman of Geely Auto praised the Egyptian government’s support to foreign investors.

The new factory is set to meet the local demand and export about 30,000 cars.

For his part, Madbouly noted that the new factory is step forward for Greely Auto to establish a main center in Egypt that caters to the market’s needs in the Middle East and Africa.

Moreover, he said Egypt has a national program to encourage and back the automotive industry, with a law enticing all incentives and exemptions to promote it.

Egypt seeks German expertise to leverage local industry: El-Khatib Updated 1/15/2025 11:56:00 AM

Egypt, Luxembourg discuss boosting investments, economic ties  Updated 1/15/2025 10:04:00 AM

ExxonMobil unveils new natural gas discovery in Egypt’s Mediterranean Sea Updated 1/15/2025 9:37:00 AM

Egypt aims for 6-month wheat reserve with new contracts Updated 1/14/2025 11:14:00 AM

China National Tire’s Prometoen Tyre to set up 2 new projects in Egypt Updated 1/14/2025 10:12:00 AM