Nevin Jameh, Minister of Trade and Industry, discussed with the delegation of the German company Leoni for the manufacture of car cables, headed by Eng. Managing Director of the company, The company’s future plans to expand in the Egyptian market,
The minister said that the government is keen on developing the Egyptian auto industry and its feeding industries and providing all the necessary capabilities to advance them by enhancing its competitive advantages, which contributes to making Egypt a regional center for this important industry. Pointing out that the Egyptian auto industry strategy is currently being prepared, which offers many incentives to car manufacturers, especially electric cars and car feeding companies.
Gamea explained that the company enjoys a distinct geographical spread in the Egyptian market, as it operates in the free zone in Nasr City, Badr City and Assiut City, which is in line with the directions and objectives of the Egyptian state with the importance of creating development in the governorates of Upper Egypt, providing decent job opportunities and encouraging foreign companies to pump more investments into the Egyptian market. Pointing out that the ministry, with all its organs, spares no effort in supporting foreign companies operating in the Egyptian market and exerting all possible efforts to overcome any obstacles that hinder the flow of their work in the Egyptian market.
The minister pointed out the importance of the company benefiting from the incentives package provided by the new investment law, which includes tax refund incentives and free zones. Pointing out that the program to support car exports, which was approved last year at a value of 500 million pounds, aims to encourage car manufacturers to develop long-term visions and pump new investments to localize and deepen the automotive industry and its components to expand production and export to markets that are linked with Egypt with preferential and regional agreements.
On his part, Eng. Ingo Snebegler explained, Managing Director of the German company Leoni for the manufacture of car cables, that the company has more than 100 production headquarters in more than 30 countries and employs about 100,000 employees worldwide, Pointing out that the company has been operating in Egypt for 25 years and owns 14 factories, including 10 factories in the Free Zone in Nasr City, two factories in the Industrial Zone in Badr City, and a factory in Assiut, with a total workforce of 5,600 workers. Its products benefit the most prominent international brands in the field of cars.
Snbegler added that the company is keen to strengthen its position in the Egyptian market, as it is one of the most important markets in the region, maintain the company’s competitive capabilities and increase its exports to target markets, especially that the company’s total exports amounted during 2021 to about 100 million euros.
Dr. Anis Kamoun, CEO of the company’s branch in Egypt, participated in the meeting. And Mr. Hatem El-Ashry, Advisor to the Minister for Institutional Communication.