Global auto manufacturers await clarity on Egypt’s domestic manufacturing strategy before raising investments
Manufacturers including Toyota, Ford, Peugeot and Proton are currently waiting for details on the government’s local automotive manufacturing strategy before ramping up investments in the country, Al Masry Al Youm reports. The companies are seeking further clarity on strategy and incentive for the sector as part of its programme submitted to the house of representatives in February, with a policy on exports yet to be announced (potential tax breaks to be granted based on the business size in Egypt, exports). (Al Masry Al Youm)
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