Al-Sisi said during President Sisi’s meeting with the heads of a number of major international companies operating in the industrial sector participating in the International Forum and Exhibition for Industries held in Egypt: “I said if the traditional car industry had passed us by, we would enter into the issue of the whole world working in it, and we said we are ready to provide the incentives that will make the car industry successful.” Electricity in Egypt, and we operate as a headquarters for the company, and 100 billion pounds are allocated for this matter, donated by the state.”
President Sisi added: “We do not have the luxury of wasting any time other than encouraging investors to work, develop and invest. I will say for example that in 2016 and 17 I had the opportunity to visit many countries such as Japan and Korea, and I spoke about the electric car and that we in Egypt are interested in this issue.”
President Abdel Fattah El-Sisi called on businessmen and factory owners to supervise… Technical schools located within the scope of their work.
The President said during his meeting with the heads of a number of major international companies operating in the industrial sector participating in the International Forum and Exhibition for Industries held in Egypt, on Tuesday, that the Egyptian state has made intensive efforts over the past ten years to provide a suitable environment for the development of the industry, making it a basic pillar in production. GDP.
He pointed out that the state established 25 universities within 10 years, to provide an educational product for young people that is in line with what the labor market requires, which ultimately benefits investors and industrialists.
He continued: “Any factory that wants to supervise the technical school located next to it, from selecting, teaching and qualifying students, we are ready to provide this for him, at the school, and by spending on the school as well, with the supervision that benefits him in the product he buys in his factory. We have no problem in providing this.” “The matter.”
He explained that the Egyptian market represents a large market in itself, which enhances investment opportunities internally, in addition to export capabilities, noting that Egypt enjoys strong relations with countries all over the world, which opens broad horizons for the products of companies operating in Egypt to reach international markets.
Al-Sisi pointed out that the state has worked to develop the necessary infrastructure for the industry in an integrated manner, including modernizing ports, airports, road and train networks, in addition to providing electricity and gas, as well as developing an appropriate legislative framework that enhances investment incentives and ensures a safe and stable investment environment.
Source: Masrawy + Al-Masry Al-Youm
#AlSisi #announces #allocation #billion #pounds #enter #developed #industry
What are the strategies Egypt plans to use to attract foreign investment for its electric car industry?
## Egypt Accelerates Towards Electric Car Production, Invest 100 Billion Pounds
**Interviewer:**
President Sisi has recently announced ambitious plans for Egypt to become a hub for electric car production. Can you tell us more about this initiative and what it means for the country’s future?
**Guest:**
This is a very exciting development, demonstrating Egypt’s commitment to technological advancement and sustainability. During a meeting with international industrial leaders at the International Forum and Exhibition for Industries, President Sisi stressed Egypt’s desire to be at the forefront of the global shift towards electric vehicles, even though the traditional car industry may have passed them by.
He highlighted the government’s willingness to provide significant incentives to attract investors and ensure the success of this venture. Specifically, he mentioned allocating 100 billion pounds, a substantial sum donated by the state, to support the establishment and growth of the Egyptian electric car industry [[1]].
This initiative reflects a long-standing interest in electric vehicles, as President Sisi revealed he had already been discussing this topic with countries like Japan and Korea back in 2016 and 2017.
**Interviewer:**
What are the potential benefits of this move for Egypt?
**Guest:**
The potential benefits are vast. Firstly, it could create a new and dynamic industry, generating jobs and boosting the Egyptian economy. Secondly, it aligns with Egypt’s commitment to sustainability and reducing its reliance on fossil fuels.
Thirdly, by investing heavily in electric vehicle technology, Egypt positions itself as a forward-thinking nation, attracting further foreign investment and technological partnerships.
**Interviewer:**
Are there any challenges that Egypt might face in realizing this vision?
**Guest:**
Certainly, there will be challenges. Building a robust electric car industry requires significant infrastructure development, including charging stations, battery production facilities, and skilled labor. Overcoming these hurdles will require careful planning, collaboration between the government and private sector, and attracting the necessary expertise. However, the scale of the government’s commitment and the President’s clear vision suggest a strong determination to succeed. [[1]].
