Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Egypt, South Africa pledge to deepen development cooperation at G20 meeting    Egypt's PM orders road maintenance review, tougher penalties to curb accidents    Egypt, Novartis explore expanding collaboration in oncology, cardiology    Iran launches mass deportation of Afghans amid spying allegations    EU, China agree on rare earths, climate but divisions remain on trade, Ukraine    Association of Real Estate Developers seeks urgent meeting over threatened land deallocation on Northwest Coast    Midar partners with Adeer to develop Boulevard project in Mostakbal City with EGP 70bn investment    Over 60 million visits recorded under Egypt's Women's Health Initiative since 2019    Culture minister launches national plan to revive film industry, modernise cinematic assets    Thailand, Cambodia clash on new front as tens of thousands flee    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    UK pay settlements stagnant amid inflation surge    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    Egypt welcomes 25-nation statement urging end to Gaza war    EGX to close Thursday for July 23 Revolution holiday    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    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.



Automotive industry strategy: governmental support, private sector concerns
Published in Daily News Egypt on 13 - 12 - 2016

As the parliament is still reviewing the automotive industry strategy, the private sector has voiced a number of concerns regarding the strategy's content and implications, while the governmental sector and entities affiliated to the government appear to support the strategy wholeheartedly.
Ahmed ElKhadem, managing director of EIM, the agent of Kia motors in Egypt, highlighted that the strategy may contradict with some international agreements. In reference to that point, professor of business administration in the faculty of commerce at Tanta University and the Arab Academy of Science and Technology Yasser El-Kassrawy assured that the government is studying the strategy in a manner that does not contradict with international agreements, welcoming stakeholders to present their concerns to the parliamentary committee currently reviewing it.
While ElKhadem made clear that he does not oppose the strategy, he ensured his support for the strategy as long as it benefits the products of his company. Another concern he raised was the article in the strategy that stipulates that consumers would not pay taxes on their cars. He also remarked that non-European importers would not be affected by the strategy, as opposed to European importers.
His remarks were expanded on by Ahmed Fikry Abdel Wahab, chairperson of FAW Industrial Group, who stated that those reviewing the strategy should look into the articles establishing customs protection regulations. He referred to other countries who had managed to reach zero-customs agreements with the European Union for instance, such as South Africa. While he agreed that India, Morocco, Iran, and Turkey would also be good examples to follow, he vowed on the importance of the South African model as it depends on providing incentives. Morocco, on the other hand, is much more export-oriented, which is a pillar that Egypt had not been able to establish yet. "Until we can establish a real industry, we cannot work on exporting," he stated.
His point was echoed by Raafat Samir El-Khanagry, vice president of the Feeding Industries Division at the Federation of Egyptian Industries, who explained that the local manufacturing industry is usually accused of not being ready for development and of having not enough factories to be properly established. He, however, assured that the automotive industry strategy will develop the feeding industries.
Despite the concerns raised by mainly the private sector, member of parliament and head of the parliament's Industry Committee Tarek El-Sayed guaranteed to all session participants that the system under which the strategy will be implemented will make sure it is beneficial to all stakeholders in the industry. He revealed that the strategy will take four to five years to be implemented, assuring that the strategy will be suspended if any violations are found.
While barely any of the participants touched upon the amount of local components used in car manufacturing, which is to be set in the strategy, El-Kassrawy noted that the industry will not develop unless local components are re-evaluated.


Clic here to read the story from its source.