Egypt and Nissan cooperate in establishing new automobiles factory
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According to the minister, the ministry asked the Japanese company to use Nasr auto-assembling factory and turn it into an export hub through exporting around 50,000 cars annually.
This came during the minister’s speech at the opening session of the fourth edition of the Portfolio Egypt Conference 2019, titled “Opportunities Blunted by Risks” and organized by al-Mal GTM. More than 500 firms, investment banks and businessmen participated in the conference.
He added that Egypt has two tire factories that, together, manufacture some 990,000 tires annually, most of which are agricultural tractors’ tires.
He pointed out that the ministry is indeed facing a real crisis in terms of marketing, adding that they are working to establish a marketing entity to promote their products at home and abroad.
Earlier this month, Nissan Motor Corporation affirmed its desire to consolidate its presence in the Egyptian market and cooperate with the Egyptian government in carrying out its ambitious plans for the development of the local auto industry to place Egypt among the leading countries in the field of making and exporting automobiles. ■