CAIRO, June 14 (Xinhua) -- Egyptian Prime Minister Mostafa Madbouly on Tuesday unveiled a national strategy for the localization of the auto industry, as part of the Egypt Vision 2030.
Madbouly's remarks came during his visit to the East Port Said Industrial Zone, which is affiliated with the Suez Canal Economic Zone (SCZone), where he met with some of the world's major auto manufacturers, said the Egyptian cabinet in a statement.
Madbouly stressed the great importance Egypt attaches to "the localization and development of the automobile industry," pointing to the state's keenness to provide all aspects of support in this regard, including the necessary infrastructure, legislation and relevant investment incentives.
He added that the Egyptian government will adopt mechanisms to boost demand for electric and natural-gas-fueled vehicles, according to the statement.
Madbouly highlighted the incentives offered by the SCZone to auto investors through the integration between industrial zones and affiliated ports, which will facilitate auto exports from Egypt to African countries.
The SCZone, which is prepared to receive major investments in auto manufacturing, has the capabilities to become a regional and pioneering center for this industry in Africa, said the Egyptian prime minister.