Automotive industry strategic sector for national economy: Kabil

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Wed, 20 Sep 2017 - 07:20 GMT

BY

Wed, 20 Sep 2017 - 07:20 GMT

 Minister of Industry Tarek Kabil- File Photo

Minister of Industry Tarek Kabil- File Photo

Minister of Industry and Trade Tarek Kabil said on Wednesday that the automotive industry is a strategic sector for the Egyptian economy.

The minister made the remarks while opening the 24th round of the Automech Formula 2017, the Cairo International Motor Show which is held on September 20-23. About 24 car manufacturers are taking part in the show.

The automotive industry is the drive of development for about 13 other sectors in which more than 100 companies are working to create about 86,000 direct and indirect jobs with total investments of $3 billion, the minister said.

The minister noted the state’s strategy for this industry includes packages of incentives to build a wide scale foundation that serve the Middle East and Africa.

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