3rd Egypt Automotive Summit to discuss automotive industry strategy

International companies will sign supply contracts with feeding industries during the summit's latest round on 13 December

Major automotive companies are set to participate in the third annual Egypt Automotive Summit scheduled to take place on 13 December. International companies are slated to participate in the summit to sign supply contracts with feeder industry companies.
This year, Business News will sponsor the third summit through holding five sessions that discuss the market issues observed during 2016, under the patronage and participation of Minister of Trade and Industry Tarek Kabil, chairperson of the Suez Canal Economic Zone Ahmed Darwish, and Minister of Investment Dalia Khorshid
This year's conference has garnered special attention from leaders in the automotive sector and feeding industries, both globally and regionally. The ambassadors of South Africa, Germany, France, and the Czech Republic will attend the summit. This is in addition to a number of different business and export councils and representatives of international companies, most notably representatives from Peugeot and Citroen, Volkswagen Group, and the heads of the Chinese and Russian industrial zones in Egypt, according to Business News chairperson Mostafa Sakr.
Companies working in Egypt will also participate with attendees such as Nissan Motors Egypt general manager Isao Sekigushi; Ghabbour Auto chairperson Raouf Ghabbour; Bavarian Auto chairperson Farid Tobgui; and General Motors Egypt managing director Tarik Atta. Moreover, representatives from the Egyptian Automobile Manufacturers Association (EAMA), Egyptian Auto Feeders Association (EAFA), the Automotive Marketing Information Council (AMIC), and other Egyptian companies will also be taking part.
Since the end of last year's conference, communication has been ongoing in the automotive sector through seminars, where participants can discuss how to implement the outcomes from the conference, and shed light on the impact of recent economic decisions and their impact on the automotive sector and trade, noted Sakr.
This year's automotive summit comes amid anticipation that the government will approve the automotive industry strategy, which is expected to carry incentives that will deepen industry and increase Egyptian exports.
The automotive industry strategy was the main focus of discussions during the first and second summits. According to Sakr, implementing the strategy this year will create a powerful engine in the market in the coming period by providing a clear vision for the future of investment in the industry on a competitive basis for the benefit of society and the private sector.
The Egypt Automotive Summit has become the biggest event to bring together all parties working in the automotive sector and feeding industries, such as heads of manufacturing companies, agents, distributors, feeding industry companies, and automotive experts, said the summit's manager, Mohamed Aboul-Fotouh. This is in addition to the participation of government ministers and heads of sectors relevant to the automotive sector. The banking sector is also interested in participating to provide new solutions to finance and develop the automotive sector, be it in the industrial or commercial sectors.
The summit is prepared to face the challenges in the automotive sector with the government, and a session has been allocated for an open discussion between the customs and tax authorities and the automotive sector parties to resolve all obstacles found in the sector, added Aboul-Fotouh.
A session, in which the members of the parliament's Economic Committee will participate, will be dedicated to announcing the final position of the automotive manufacturing strategy, which is currently the most important hub for the sector, said Aboul-Fotouh.