Egypt's Al-Mashat receives Global Leadership Award in Doha, highlights $97bn African FDI    Egypt exports 150,000 m3 LNG cargo to Türkiye via Shell    Egyptian government, central bank step up coordination on key economic policies    Egypt's stock benchmark EGX30 hits all-time high on Monday, 08 Dec.    Israel escalates military action in Gaza, violates ceasefire amid rising casualties    Egypt reviews plans for first national medical simulation centre    Al-Sisi, Haftar discuss Libya stability, call for withdrawal of foreign forces    GAFI unveils updated framework for financial valuation, due diligence    EBRD, National Bank of Egypt sign $100m facility to support small businesses    Egypt, Qatar press for full implementation of Gaza ceasefire    Egypt calls for inclusive Nile Basin dialogue, warns against 'hostile rhetoric'    Egypt, China's CMEC sign MoU to study waste-to-energy project in Qalyubia    Egypt joins Japan-backed UHC Knowledge Hub to advance national health reforms    Egypt launches 32nd International Quran Competition with participants from over 70 countries    Al-Sisi reviews expansion of Japanese school model in Egypt    Egypt declares Red Sea's Great Coral Reef a new marine protected area    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Toyota to launch Fortuner model in Egypt, investments hit $8.5mn
Amwal Al Ghad Published in Amwal Al Ghad on 11 - 07 - 2017

Toyota Egypt, in partnership with Arab Organisation for Industrialization (AOI), on Monday launched a line for assembling car parts for the Toyota Fortuner 2017 at the Arab American Vehicles Co.
Toyota Egypt's investments in the project amount to $8.5 million.
Attending the contract signing was Egypt's minister of investment and international cooperation Sahar Nasr, who said that the Toyota Fortuner investment was a result of the government's economic programme.
The deal confirms that the investment climate in Egypt is improving, Nasr highlighted.
She added that the Egyptian government was working on encouraging investments in the auto industry and production by creating the suitable climate to attract global companies.
The minister invited Egyptian businessmen and investors interested in the automotive industry to communicate with these global companies and benefit from the attractive merits of investments.
Commenting on the deal, AOI chairman Abd El Aziz Seif said that production of the new generation of Toyota Fortuner affirms the confidence in the future of investment in Egypt and the Egyptian workforce.
The contribution of domestic production in the Toyota Fortuner 2017 reaches 46.1 percent, Seif said, noting that he hopes this percentage will increase.
Meanwhile, Toyota Egypt CEO Ahmed Monsef confirmed his company's commitment to increasing its investments to support the Egyptian economy.
Japan's ambassador in Egypt Takahiro Kagawa and Toyota Motor Corporation Global CEO Akio Toyoda also attended the signing and the inauguration of new production line.
Japan's ambassador highlighted the importance of investments in the new generation Toyota Fortuner in Egypt, confirming Japan's trust in the Egyptian economy.

Clic here to read the story from its source.