Egypt's Minister of Industry Khaled Hashem met with a Mercedes-Benz Egypt delegation led by CEO Stefanie Volz to discuss expanding the German automaker's operations and deepening its investment in the Egyptian market.
Giza, Egypt, Urban bus MCV C120 © Mena Today
Egypt's Minister of Industry Khaled Hashem met with a Mercedes-Benz Egypt delegation led by CEO Stefanie Volz to discuss expanding the German automaker's operations and deepening its investment in the Egyptian market.
At the heart of the discussions: Egypt's National Automotive Industry Development Program (AIDP) — the government's flagship initiative to attract major international brands through an unprecedented package of incentives aimed at localizing automotive manufacturing and transferring advanced global technologies.
Hashem emphasized that localizing supporting industries remains a top priority, and invited Mercedes-Benz to fully engage with the opportunities the program offers — describing the company's presence as "a cornerstone of this ambitious national project." He also pledged the Ministry's full readiness to address operational, procedural and customs-related challenges currently facing the company, committing to immediate coordination with relevant authorities to streamline procedures.
CEO Stefanie Volz reaffirmed Mercedes-Benz's commitment to Egypt, noting that the company has operated in the market for 26 years - a track record that reflects the brand's "firm belief in Egypt's promising opportunities." She expressed eagerness to strengthen the strategic partnership with the Egyptian government in the coming period.
Chinese President Xi Jinping called on Middle Eastern nations to oppose external interference and consider reshaping the region's security order during a visit to Egypt on Wednesday, as Beijing seeks to expand its influence amid the U.S. war against Iran.
A bus crash in Egypt's Sinai Peninsula killed 22 people and injured 28 on Wednesday, according to an updated toll from the health ministry, in a country plagued by aging infrastructure and frequent road deaths.
Chinese President Xi Jinping arrives in Egypt Tuesday evening on his first visit in a decade, as the war in the Middle East and US sanctions increasingly threaten Beijing's economic interests.
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