Egypt unveils strategy to localize auto industry

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Egypt unveils strategy to localize auto industry

STORY: Egypt unveils strategy to localize auto industry DATELINE: June 15, 2022 LENGTH: 00:01:39 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of Egyptian Prime Minister Mostafa Madbouly's visit 2. SOUNDBITE 1 (Arabic): MOSTAFA MADBOULY, Egypt's Prime Minister 3. various of an agreement signing ceremony STORYLINE: Egyptian Prime Minister Mostafa Madbouly on Tuesday unveiled a national strategy for the localization of the auto industry, as part of the Egypt Vision 2030. Madbouly's remarks came during his visit to the East Port Said Industrial Zone, which is affiliated with the Suez Canal Economic Zone (SCZone), where he met with some of the world's major auto manufacturers, said the Egyptian cabinet in a statement. SOUNDBITE 1 (Arabic): MOSTAFA MADBOULY, Egypt's Prime Minister "The volume of our car imports did exceed 4 billion U.S. dollars last year, so we spent 4 billion U.S. dollars from our reserves. Because our current market (of cars) hasn't reached 300,000. However, the big challenge

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