Mercedes-Benz to boost production in Egypt by 30% next year – Cabinet statement

Mercedes-Benz announced plans to increase its production in Egypt by 30 per cent next year, an Egyptian Cabinet statement showed quoting country CEO as saying on Wednesday.

Mercedes-Benz Egypt CEO, Stefanie Volz emphasized Egypt’s strategic importance as a hub for the African market and highlighted the country’s potential for growth.

During a meeting with Egyptian Minister of Investment and International Cooperation Hassan El-Khatib, Volz discussed the company’s expansion plans and expressed appreciation for the government’s efforts to localise the automotive industry.

Minister El-Khatib reiterated the government’s commitment to creating a favourable investment environment through incentives and trade facilitation. He emphasised the government’s focus on implementing clear, transparent, and predictable economic policies to attract both domestic and foreign investors and boost Egypt’s foreign trade.

Attribution: The Egyptian Cabinet