Toyota Tsusho is exploring establishing a car factory in Egypt | GAFI



Tue, 02 May 2023 - 03:18 GMT


Tue, 02 May 2023 - 03:18 GMT

CAIRO – 2 MAY 2023: Toyota Tsusho, a Japanese car maker, announced plans to establish two car factories in Africa, with an annual production capacity of 100k cars per factory, The General Authority for Investment and Free Zones (GAFI) said in a statement.

A representative from that Egyptian-Japanese Business Council pointed out that Egypt is one of the preferred countries for the establishment of a factory. This is due to Egypt’s establishment of factories that feed the automotive industry, such as the car braid factory, and the presence of qualified manpower in Egypt, as Toyota Tsusho will rely on local expertise and finally, the efficiency of Egypt’s investment environment.

Earlier this week, the Japan International Cooperation Agency (JICA) announced that it will finance the third tranche of the first phase of Line four of the Greater Cairo Metro, with a total investment value of 100 billion Japanese yen, which accounts for more than $730 million.

The cooperation between Egypt and Japan has witnessed steady growth in recent years, with Japanese direct investment in Egypt increasing by approximately 52 percent in 2021.



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