The Transportation Division of the Chamber of Engineering Industries and the Industrial Development Authority (IDA-Egypt) announced plans to develop the motorcycle industry.
Head of Transportation Division of the Chamber of Engineering Industries Adel Bedir said parties are looking to establish a clear mechanism to manufacture motorcycles locally, rather than importing production components and re-manufacturing it locally.
During the Transportation Division’s meeting Monday, the Ministry of Foreign Affairs announced is conducting a preliminary study to transmit components of Egypt’s automotive industry to Morocco, according to Bedir. The ministry met with Moroccan representatives to discuss the advantages that would be offered by such a move.
Bedir said the ministry sent an invitation to the representatives of the Ministry of Industry and members of the private sector to visit Renault and Nissan factories in Morocco to learn about the logistics and tax facilities granted by Morocco to investors.
The Transportation Division now seeks to link IDA with the General Authority of Traffic to register all private cars once they are released in local market. This move would also be applied to tuk-tuks and microbuses.
Bedir said the Ministry of Industry and Trade has announced it will release the strategy for the automotive industry soon. Bedir expects the ministry to set the local to international manufacture ratio at 60%.