Cairo – Mubasher: German automaker Volkswagen and the Italian automobile manufacturer Fiat are exploring the available investment opportunities to manufacture cars in Egypt.
Both firms have held several meetings with the Federation of Egyptian Industries’ (FEI) board of directors last month to identify the state of the Egyptian economy, executive director of the FEI Khaled Abdel Azim told Alborsa News.
Fiat is currently differentiating between Egypt, Morocco, and South Africa to set up a factory over the forthcoming period, he highlighted.
Both automakers have had inquiries over the announcement date of Egypt's automotive industry strategy and the availability of the feed-in industries in the Egyptian market, abdel Azim indicated.
Volkswagen has already picked up three Egyptian manufacturers to supply them with its products and parts. These firms are El Teriak Industrial Group, MOBICA, and IDACO.
