Tarek Atta, the managing director for General Motors Egypt and North Africa, praised the effective role played by the annual Egypt Automotive Summit. It allows for real and strong public interaction between decision makers in the government and the automotive industry and its feeding industries providers, he said. He considers this summit the perfect opportunity to discuss the demands of the sector. What are the main topics that you want to be discussed during the third annual Egypt Automotive Summit? This summit should find proper ways to provide state support for local auto manufacturing—which is currently facing a critical period, in light of the existing investments in the domestic market and the large size of the sector's employment. I call for the automotive and feeding industries development law to be supported in all possible ways. How do you evaluate the third annual Egypt Automotive Summit? The Egypt Automotive Summit is considered one of the most appropriate opportunities to discuss the issues and concerns of the automotive industry and its complementary industries. It allows different points of view to be reviewed so as to reach real solutions—which the government should take into account before making decisions. What are your main demands from the government on the occasion of the third annual summit? We demand that the government secure our needed foreign currency, whether for imports or to transfer corporate profits regularly. Despite the flotation of the Egyptian pound, every company still faces problems due to the fluctuating exchange rate. What are the major challenges facing the automotive sector currently? The automotive sector still lacks a clear vision. Combined with the decline in economic growth rates and purchasing power, the sector has been rendered completely paralysed. Although these aspects are temporary, they still had a negative impact on the financial situation of companies and merchants. The poor road networks have had a negative impact on productivity despite the obvious efforts made by the state in this regard, but they remain insufficient. How do evaluate the investment and economic opportunities in the Suez Canal Economic Zone? We expect a breakthrough in the automotive industry and feeder industries in line with the development of the national economy, especially as the number of vehicles in Egypt is not commensurate with the population according to international standards. There are also great export opportunities, whether for local manufactured vehicles or feeding industries, which would allow Egypt to occupy an advanced position among exports of vehicles and their components to African countries and the world.
