Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, held talks with Sharon Nishi, Chairperson and Managing Director of General Motors Egypt and Africa, to review the company’s current investments and future expansion plans. The Tuesday meeting, attended by Jehan Saleh, economic adviser to the Prime Minister, focused on localizing the automotive industry and aligning with GM’s strategy. It highlighted efforts to boost GDP contribution and exports.
On Tuesday, Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, met Sharon Nishi, Chairperson and Managing Director of General Motors Egypt and Africa, with Jehan Saleh, economic adviser to the Prime Minister, in attendance. The discussions reviewed GM’s investments exceeding $530m, including about $50m for robotic systems and advanced manufacturing technologies to improve production efficiency. Farid noted that GM has produced over one million vehicles locally, creating around 1,300 direct jobs and more than 30,000 indirect jobs, signaling investor confidence in Egypt’s market. Local content in some models surpasses 60%, aiding industrial localization efforts. The minister outlined the government’s goals to localize production, increase exports, attract foreign direct investment, and enhance competitiveness in the automotive sector and its suppliers. He mentioned developing an export incentive framework to leverage Egypt’s position as a hub for African and Middle Eastern markets. Farid reaffirmed support for GM’s expansion aligned with national priorities. Nishi called Egypt a key pillar in GM’s regional strategy, praising its location and skilled workforce. The company is launching new models and expanding capacity to meet demand and exports, marking 100 years in the region starting from Egypt.