Kamel El-Wazir Discusses New Toyota Investments to Localize Car Manufacturing in Egypt

The Egyptian government is stepping up efforts to strengthen car manufacturing in Egypt, as the Deputy Prime Minister for Industrial Development and Minister of Industry and Transport held high-level talks with executives from Toyota Tsusho and Toyota Egypt to explore future plans and new investments.

During the meeting, the minister outlined the state’s vision to localize car manufacturing in Egypt, highlighting incentives offered under the national automotive development program aimed at transforming the country into a regional hub for the industry.

He reaffirmed the government’s commitment to supporting Toyota’s industrial expansion by providing facilitation measures, easing procedures for establishing new manufacturing facilities, and removing obstacles to ensure swift investment inflows and production launches.

Discussions also focused on finalizing a proposed memorandum of understanding, including the introduction of new Toyota models for local manufacturing and assembly, upgrading existing models, and increasing local content to enhance competitiveness in domestic and export markets.

Toyota representatives praised the progress of Egypt’s industrial sector, noting that the Egyptian market is a cornerstone of the company’s African expansion strategy, and expressed interest in deepening cooperation to support car manufacturing in Egypt and overall economic growth.