Egypt's minister, automakers discuss localizing car sheet metal production
The Monday discussions focused on exploring practical mechanisms to localize automotive sheet metal production in Egypt.
Al-Wazir underlined the government's firm commitment to supporting the iron and steel sector, given its critical role in sustaining key industries—particularly the automotive industry. He stressed that localizing automotive sheet metal production is currently a top priority, as it would significantly reduce import costs, increase the proportion of local content, and enhance the competitiveness of Egyptian products in domestic and global markets.
The Minister explained that the ministry is developing an integrated strategy based on two main pillars. The first pillar aims to ensure a sustainable legislative and incentive framework, alongside clear implementation plans to support long-term industrial investment. The second focuses on identifying vehicle components that can realistically be manufactured locally, supported by skilled human resources and defined timelines.
Al-Wazir noted that the ministry will continue close coordination with all relevant parties—including private sector stakeholders and government institutions—to ensure the efficient and timely execution of this national initiative.
He emphasised that localizing automotive sheet metal production is not only a critical step in reducing imports but also serves as a launchpad for broader efforts to expand local manufacturing of vehicle components. This will pave the way for new industrial partnerships aligned with Egypt's economic development goals.
The Minister highlighted that the domestic market has solid demand that could underpin the establishment of various feeder industries. He pointed out that Egypt already produces some automotive components that are exported to international markets, reflecting the competitiveness and quality of local manufacturing.
Al-Wazir also identified promising opportunities to localize additional key components—including tires, glass, and sheet metal—and affirmed that the ministry is working to capture these opportunities by fostering effective public-private partnerships and creating a supportive environment for sustainable industrial investment.
During the meeting, participants reviewed the perspectives of major steel producers on the feasibility of supplying sheet metal tailored to the design and structural needs of different vehicle types. Discussions also addressed production methods for exterior sheet metal, relevant design standards, and technical specifications.
The meeting further examined the strategy and estimated production volumes needed to align with the state's broader plan to localize the automotive industry.
Al-Wazir announced plans to hold a larger follow-up meeting with vehicle manufacturers and feeder industries to deepen technical discussions. The goal is to ensure that local sheet metal production matches the specifications required by automotive manufacturers. He called for closer coordination between steel producers, car assembly firms, and component manufacturers to integrate supply chains and advance the localization process in line with the national vision.
The Minister concluded by stating that localizing automotive sheet metal production represents a qualitative step toward increasing local content and improving the effectiveness of the incentives offered to the automotive sector. This move is expected to boost the sector's regional and international competitiveness by reducing reliance on imports, improving supply chain stability, and enhancing investor confidence in Egypt's industrial landscape—all of which support manufacturers' capacity to meet production and export targets.
© 2025 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
7 minutes ago
- Khaleej Times
Dubai: Now you can pay for on-street, off-street parking through Salik
Car owners in Dubai will be able to pay for on-street, off-street parking through Salik, as part of a new agreement signed on Tuesday. The newly signed agreement between Parkonic, a smart parking solutions provider, and Salik Company aims to roll out fully AI-powered and autonomous parking solutions across the emirate. The initiative, which will be will be covering 36,000 parking spaces in Dubai's iconic communities, will allow motorists instant, cashless, and automatic payment capabilities, Parkonic said in a statement. It effectively means barrierless and ticketless parking process with zero human intervention. Earlier today, Parkin, another parking provider in Dubai, said that it will be rolling out paid parking spaces in key communities across the city as it partners up with Dubai Holding. Under the new agreement, Parkin will operate and manage 29,600 paid parking spaces. "This partnership is a milestone for urban mobility in Dubai. Together with Salik and Dubai Holding, we're building a future where parking is seamless, intelligent, and user-centric," Parkonic said in a statement. The project is aimed at reducing congestion, cutting carbon emissions, and directly supporting Dubai's Net Zero goals.
Zawya
30 minutes ago
- Zawya
Pan-African challenge opens for fintech entrepreneurs
Applications have opened for the seventh edition of the Mest EST Africa Challenge (MAC 2025), a startup pitch competition focused this year on financial technology. The initiative, led by the Meltwater Entrepreneurial School of Technology (Mest Africa) in partnership with Absa, aims to support early-stage fintech startups across the continent. Startups have until 26 September 2025 to apply. Twenty semi-finalists will be selected for virtual pitch rounds, with ten finalists invited to compete in person at the Grand Finale in Cape Town in November. The winner will receive a $50,000 equity investment and the opportunity to pilot their solution with strategic partners. Focus on FinTech innovation in Africa This year's challenge highlights startups that are reshaping how money is moved, insured or managed on the continent. Eligible startups must be no older than three years, with a minimum recurring monthly revenue of $5,000 and total funding raised under $1m. Operations must be active in at least one of Absa's key markets: Botswana, Uganda, Mauritius, Seychelles, Kenya, Mozambique, Zambia, or Ghana. Applications must include a three-minute pitch video and can be submitted via Mest's online portal. Strategic partnership with Absa Backed by Mest's experience investing in over 90 African startups, the 2025 challenge is supported by Absa to align with its broader digital finance strategy. Both organisations say the initiative is intended to deepen innovation ecosystems and connect startups with capital, mentorship, and product testing opportunities. 'This partnership is about connecting with startups that can drive meaningful digital transformation,' said Muhammad Ali Bhikhan, chief information officer at Absa Regional Operations. The competition forms part of Mest and Absa's shared goal to support inclusive growth and fintech development across Africa's emerging markets. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
The National
37 minutes ago
- The National
Alpha Dhabi 'exploring' building UAE data centres amid AI boom
Alpha Dhabi Holding, a unit of Abu Dhabi's International Holding Company, is open to 'indirectly' tapping into the UAE's growing data centre scene as it continues to expand its portfolio, a senior executive said on Tuesday. The investment company, with total assets of nearly Dh200 billion ($54.5 billion), does not have specific plans to invest in data centres, but would consider building the facilities, which are key components of the artificial intelligence boom, chief strategy and investor relations officer Derek Nicholson told The National. 'Indirectly, we can participate in some of the [technology] transformation that's happening here in the UAE … someone has to build [the data centres], so we could build that through our construction division and we're actively exploring opportunities,' he said, speaking at a media round-table in Abu Dhabi. Mr Nicholson was referring to Trojan Construction Group, which he said could create a division to build data centres. Alpha Dhabi was known as Trojan Holding before a rebrand and initial public offering in 2021. 'This is a significant growth area for that [as they are] going to be the construction projects of the future and if you can deliver and specialise in that, there can be significant new markets that can be available to us,' Mr Nicholson added. The UAE, Abu Dhabi in particular, has made a flurry of moves to advance its technology sector, especially amid the AI boom, such as the 1-gigawatt Stargate data centre to be built in the UAE capital. 'If we see something in data centres, then we could consider it and it would go through our investment screening process,' Mr Nicholson said. 'We have a lot of capital that we're looking to deploy and our job is to find the best ones.' Alpha Dhabi has plans to float more of its companies, although it has yet to determine how many, which ones and when, Mr Nicholson said. The listings would most probably be on the Abu Dhabi Securities Exchange, owing to the strength of the emirate's stock market, he added. 'When we think [our companies] reach the right level, then they're ready to go on the stock market,' he said. Tariff impact 'virtually zero' The sweeping tariffs imposed by the US government have had 'virtually zero' impact on Alpha Dhabi's business, owing to 'very detailed due diligence', Mr Nicholson said. 'If we were going to invest in a particular country or a sector, we would look to see if there was any impact on the tariffs, but the tariffs have had virtually zero impact on our business,' he said. Net profit for the three months ending in June soared more than 117 per cent year-on-year to Dh4.53 billion, the company said in a filing to ADX, where its shares trade. Revenue for the period jumped nearly 22 per cent year-on-year to Dh18.43 billion. For the first half of 2025, Alpha Dhabi's profit inched down 0.7 per cent annually to Dh6.63 billion, despite a decrease in non-recurring accounting adjustments of Dh1.4 billion. Revenue for the six-month period leapt 22.3 per cent year-on-year to Dh35.85 billion, while earnings before interest, taxes, depreciation and amortisation – a key metric for profitability – jumped 34 per cent to Dh8.4 billion. Alpha Dhabi's industrial portfolio made the biggest contribution to its first-half revenue with Dh13.4 billion, followed by real estate's Dh12.8 billion and construction's Dh6 billion. 'The majority of our revenues are growing. There's a lot of tailwinds that are coming in from the initiatives that the [UAE] government is launching [and] we're benefitting from that,' Mr Nicholson said. 'Our companies are doing exceptionally well in terms of the growth that they're achieving.' Alpha Dhabi has grown into a regional conglomerate with interests in construction, health care, hospitality and industry after completing a series of acquisitions in 2021 and 2022. The conglomerate, through its entities, has been investing in Europe, the US and Africa. Among the biggest names under Alpha Dhabi's portfolio are Aldar Properties, Abu Dhabi's biggest listed developer; Pure Health, the largest health care group in the Middle East and North Africa; NMDC Group, the biggest engineering, procurement and construction company in the Middle East, and Trojan Construction, the industry's top group in the UAE. In May, Alpha Dhabi signed a partnership agreement with Abu Dhabi's Al Jazira Sports Club to run until the end of the 2027-28 football season.
