The Egyptian government is focusing on the localisation of the automotive and mobile phone manufacturing within the country, Prime Minister Moustafa Madbouly told a press conference on Wednesday. By localizing production, Prime Minister Madbouly said Egypt aims to reduce its heavy reliance on imports, which exceed $5.5 billion annually. To achieve this, the government is actively engaging with global industry leaders to establish manufacturing facilities within the country, he added. A significant step forward involves a major automotive company's plan to produce and localise six new car models in Egypt by 2027, including electric vehicles, the prime minister revealed. This project is expected to create jobs, stimulate economic growth, and position Egypt as a regional automotive hub. In the mobile phone sector, Prime Minister Madbouly said the government is targeting a substantial increase in production to meet domestic demand and become a global exporter. The existing factories in Egypt currently produce over 11 million devices annually, while demand stands at around 20 million. With new manufacturing projects underway, the prime minister expects production to reach 17 million devices soon. To further boost the industry, the government plans to increase production to over 100 million devices annually by partnering with global manufacturers. Egypt already hosts factories for four of the world's top five mobile phone brands. By doubling production and incentivising exports, the government aims to transform Egypt into a major global player in the mobile phone industry. Attribution: The Egyptian Cabinet
