This image will be automatically disabled when it gets reported by several people.
Activation of automotive directives considered survival mechanism before implementing European partnership: Tamer El Shafei Lack of trategy major element contributed to stopping expansion investments
The head of feeding industries at the Chamber of Engineering Industries of the Federation of Egyptian Industries, Tamer El Shafei, said that feeding industries were impacted for the lack of an automotive strategy in Egypt, especially, given that lack of a strategy was a major element that contributed to stopping expansion investments in assembly lines in the domestic market, which cut demand on local components. El Shafei told Egypt Automotive that the entry of the European partnership into effect in January 2019 would add more burden on feeding industries, as the partnership will block the view even further for local and foreign investors. The partnership will exempt European-made cars from customs. This would make investing in local feeding industries unfeasible. Moreover, he hoped that the automotive strategy directives would finally see the light, to serve as a roadmap for local manufacturers before the partnership with Europe comes into effect. Meanwhile, El Shafei stressed that the automotive feeding industries in Egypt are of a high quality and able to cover the needs of the market and competition in global markets, but it only needs a clear vision of the needs of the market.
