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Trade minister, Mercedes-Benz discuss boosting investments in Egypt

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Egyptian Minister of Trade and Industry Nevine Gamea with the head of the delegation of Mercedes-Benz Egypt and its President and CEO Gerd Bitterlich during their meeting on Tuesday 3 May, 2022. Photo courtesy of Egyptian Ministry of Trade and Industry Facebook page.

In a meeting with the delegation, which was headed by Mercedes-Benz Egypt CEO Gerd Bitterlich, Gamea asserted that her ministry is keen on encouraging foreign investors operating in Egypt to expand their businesses, especially given the suitable investment environment in the country.

Egypt announced in January of this year that the country is set to manufacture its first electric vehicle in 2023.

Gamea asserted that the Egyptian market possesses all the potential for becoming a hub for car manufacturing in the Middle East and Africa.

She added that the government is keen on easing all obstacles facing investors.

For his part, Bitterlich asserted that Mercedes-Benz supports the goals of the Egyptian government in localising the car industry, adding that Egypt is a promising and pivotal market in the Middle East for manufacturing Mercedes-Benz cars.

Bitterlich said that Mercedes-Benz saw great growth in the Egyptian market during the past few years, citing as an example the company’s logistics centre being built in the Suez Canal Economic Zone (SCZone) on an area of 20,000 square metres.

Mercedes-Benz Egypt signed an agreement with the SCZone to establish this logistics centre in July 2021. The centre will include a warehouse for cars and spare parts as well as maintenance workshops.

The company has also increased the number of its agents in the Egyptian market to five authorised distributors, including 12 showrooms for sales and after-sale services.

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