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
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What are the financial incentives Egypt might offer to attract foreign investment in its electric car industry?
## Egypt revs up for electric car industry
Today we’re joined by [Guest Name], an expert on the Egyptian automotive industry. President Sisi recently announced ambitious plans to transform Egypt into a hub for electric car manufacturing. What are your thoughts on his vision?
**[Guest Name]:** President Sisi’s commitment to investing in the electric vehicle sector is certainly a bold move.
The statement about not wanting to miss the “electric car train” highlights a recognition that the global automotive industry is rapidly shifting towards sustainable transportation [[[1](https://en.wikipedia.org/wiki/Automotive_industry_in_Egypt)]]. And with the pledge of 100 billion Egyptian pounds in state funding, it seems the government is serious about attracting investments and fostering growth in this area.
**Interviewer:** You mentioned attracting investments. What kind of incentives are likely to be offered?
**[Guest Name]:** While specifics haven’t been publicly disclosed, we can expect incentives tailored to attract foreign automakers and technology companies. This could include tax breaks, subsidized land, and streamlined regulatory processes [[[1](https://en.wikipedia.org/wiki/Automotive_industry_in_Egypt)]].
Egypt already has a history of automotive manufacturing, albeit largely focused on assembling foreign brands [[[1](https://en.wikipedia.org/wiki/Automotive_industry_in_Egypt)]]. This existing infrastructure could provide a foundation for developing a robust EV ecosystem.
**Interviewer:**
The President also mentioned the importance of technical schools and the role of business leaders in supporting them. How crucial is workforce development in making this vision a reality?
[Guest Name]: Absolutely critical.
Successfully establishing an electric vehicle industry requires a skilled workforce capable of designing, building, and maintaining EVs and the associated charging infrastructure [[[1](https://en.wikipedia.org/wiki/Automotive_industry_in_Egypt)]]. Investing in technical education and apprenticeships will be crucial to equip Egyptians with the necessary expertise.
President Sisi’s call for businesses to contribute to technical schools is a smart move, as it leverages the expertise and resources of the private sector to ensure training is relevant to industry needs.
**Interviewer:** This is certainly an exciting time for the Egyptian automotive industry. Thank you for sharing your insights, [Guest Name].
**[Guest Name]:** Thank you for having me.
