Nissan, Overseas Suppliers negotiate to establish Factory in Egypt

Nissan Motor Corporation plans to negotiate with its suppliers abroad to establish a factory in Egypt, according to a cabinet statement on Friday.

“We have a plan to attract suppliers working abroad to establish factories in Egypt,” said the Deputy Chairman of Nissan Motor Corporation in Africa, the Middle East, India, and South Asia, who met Mehleb on Thursday.

The cabinet confirmed that during the Deputy Chairman’s meeting with Mehleb, and in the presence of the Ministers of Trade and Industry, and Investment, that the company seeks to expand production in Egypt.

The company official said Nissan’s factory in Egypt was launched in 2005. Its products vary from passenger cars to sports or commercial cars.

Last year, the company’s volume of production reached 21,000 cars. It plans to raise the number this year to 26,000 cars through three working shifts, which will contribute to increasing youth job opportunities.

“Mehleb assured that the government fully supports serious investors by offering them all the facilities so that companies can start their expansion plans and pump new investments,” said Cabinet Spokesperson Hossam El-Kawish.

El-Kawish added that Egypt is the main gateway to Africa and its markets, which have witnessed unprecedented growth rates.

“An agreement was signed for forming economic blocs through the third trilateral summit for the presidents and governments of COMESA, the East African Community, and the Southern African Development Community, held in Sharm El-Sheikh last week. The agreement offers goods produced in Egypt a chance to enter the African market,” added El-Kawish.

Minister of Trade and Industry Mounir Fakhry Abdel Nour requested that Nissan officials increase local production of cars from the factory in Egypt.

The Nissan official confirmed the company’s policy for the current period is to expand in using the local production. The company also has a plan to deepen the local industry, which would raise the number of job opportunities.

Source: Daily News Egypt