Mercedes-Benz studies raising investments in Egypt

A mission from the global automobile manufacturer Mercedes-Benz is set to visit Cairo by the beginning of 2017 to discuss means of boosting company’s investments in the Egyptian market.

Egyptian Trade and Industry Minister, Tarek Qabil met Saturday with Thomas Zorn – CEO and President at Mercedes-Benz Egypt- and officials at the German multinational automotive corporation, Daimler AG.

During the meeting, Qabil showcased efforts exerted by the Egyptian government to enhance automotive industry as well as the prominent investment opportunities in the sector within the upcoming period.

Officials of Mercedes-Benz Egypt expressed their keenness on raising company’s investments in Egypt as pursuant to the improved economic conditions and the success of government’s economic reform programme, the minister clarified.

“Automotive sector is industry ministry’s current main priority”, Qabil stated, adding that the strategy of manufacturing automotives –which waits parliament’s approval- is set to upgrade auto industry and its feeding industries.

On his part, CEO Zorn asserted that Mercedes-Benz looks forward to inject more investments into the Egyptian market as pursuant to the deep bilateral ties between Egypt and Germany.