FAW to set up fac­tory to pro­duce, as­sem­ble trans­port ve­hi­cles, minibuses in 10th of Ra­madan

Ac­tual pro­duc­tion of the com­pany to be­gin in the be­gin­ning of March, says Ka­bil

The Daily News Egypt - - Front Page - By Ne­hal Samir

Min­is­ter of In­dus­try and Trade Tarek Ka­bil an­nounced dur­ing his meet­ing with Zhang Xiao­gang, the vice chair­per­son of the Chi­nese com­pany FAW, in Beijing that FAW has de­cided to es­tab­lish a fac­tory to pro­duce trans­port ve­hi­cles and minibuses in Egypt’s 10th of Ra­madan City in co­op­er­a­tion with FAW’s agent in Egypt Giushi Mo­tors Com­pany.

Ka­bil pointed out that the ac­tual pro­duc­tion of the com­pany will be­gin in the be­gin­ning of March.

More­over, the vice chair­per­son of FAW said the com­pany’s pro­duc­tion will fo­cus on meet­ing the needs of the Egyp­tian mar­ket from trans­port ve­hi­cles and minibuses, and ex­port­ing to neigh­bour­ing mar­kets.The com­pany plans to pro­duce both mi­crobuses and pas­sen­ger cars in 2018.

FAW is one of the lead­ing com­pa­nies in the in­dus­try of pas­sen­ger cars and heavy trans­port.

It is the third largest in­dus­trial in­sti­tu­tion in China, and it is ranked num­ber 111 in the list of the world’s top 500 com­pa­nies. Mean­while, the com­pany’s vol­ume of sales ac­counts for 18 mil­lion ve­hi­cles in China and all over the world, ac­cord­ing to the vice chair­per­son of the com­pany.

Xiao­gang de­scribed the Egyp­tian mar­ket as one of the most promis­ing mar­kets in the Mid­dle East and Africa. He stressed that the com­pany’s de­ci­sion to be present within the Egyp­tian mar­ket was a re­sult of the com­pany’s con­vic­tion of the strength of the Egyp­tian mar­ket.

In the same con­text, Egypt’s Min­is­ter of In­dus­try ex­plained that his meet­ing with the com­pany’s del­e­ga­tion that vis­ited Cairo last June to dis­cuss and study the Egyp­tian mar­ket on the ground and de­ter­mine the in­vest­ment di­rec­tions of the com­pany has con­trib­uted to the com­pany’s de­ci­sion to be present in the Egyp­tian mar­ket dur­ing the next stage.

On the other hand, Sayak Mo­tor com­pany be­lieves that Egypt is an im­por­tant and piv­otal coun­try in this re­gion.The com­pany said that it wishes to de­velop its trade and in­vest­ment co­op­er­a­tion with Egypt in the com­ing pe­riod, vice chair­per­son of the board of di­rec­tors of Sayak Mo­tor com­pany said dur­ing his meet­ing with Egypt’s In­dus­try Min­is­ter.

He pointed out that the com­pany has es­tab­lished a rep­re­sen­ta­tive of­fice in Egypt that has a re­spon­si­bil­ity of study­ing the Egyp­tian mar­ket and the mar­kets of the Mid­dle East.

The vice chair­per­son of Sayak Mo­tor com­pany’s board of di­rec­tors said that the com­pany seeks to find an Egyp­tian part­ner to as­sist in de­vel­op­ing its trade and in­vest­ment co­op­er­a­tion in the Egyp­tian mar­ket.

In the same con­text, the min­is­ter stressed the min­istry’s readi­ness to pro­vide all sup­port for the com­pany to en­ter the Egyp­tian mar­ket, not only for assem­bly but also for man­u­fac­tur­ing cars. He added

that Egypt aims to de­velop the car in­dus­try sec­tor and to in­crease the ex­port of Egyp­tian cars to the world mar­kets.

The new In­vest­ment Law pro­vide pro­vide a huge in­cen­tives for the au­to­mo­bile in­dus­try in all gov­er­norates and in­dus­trial ar­eas across Egypt, ac­cord­ing to the Min­is­ter of In­dus­try.

Sayak Mo­tor Com­pany has the largest vol­ume of cars sales in the Chi­nese mar­ket as the vol­ume of sales in 2015 reached about six mil­lion cars, ac­cord­ing to the vice chair­per­son of the board of di­rec­tors of Sayak Mo­tor com­pany.

Ka­bil pointed out that the ac­tual pro­duc­tion of the com­pany will be­gin in the be­gin­ning of March

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