Arab Finance: Egypt’s El Nasr Automotive Manufacturing Company and the Chinese central state-owned automobile manufacturer FAW have signed a partnership to manufacture a range of vehicles under the “Nasr” brand, as per a statement.

The signing ceremony took place at the government headquarters in the New Capital and was attended by Hussein Eissa, Deputy Prime Minister for Economic Affairs.

Speaking on the sidelines of the signing, Mohamed El-Saadawy, Chairman and Managing Director of the Metallurgical Industries Holding Company (MIH), said the partnership is the result of discussions and coordination between the two companies over the past period.

He noted that the agreement reflects a shared commitment to building long-term cooperation that supports technology transfer, increases local content in manufacturing, and contributes to government efforts to revive Egypt’s automotive industry and enhance its competitiveness in domestic and regional markets.

Nabil Hammad, Managing Director of El Nasr Automotive, said the agreement is expected to support El Nasr Automotive’s plans to introduce vehicles under the Nasr brand that meet international quality standards while addressing the needs of the Egyptian market. He added that the partnership could also create opportunities for regional and international exports.

He described the agreement as an example of cooperation between national companies and international industrial institutions, adding that it aligns with efforts to advance industrial development and strengthen Egypt’s position as a regional automotive manufacturing hub.

Officials from both companies also highlighted the support provided by the Egyptian government to the industrial sector, noting that the partnership is expected to contribute to the development of a technology-driven automotive industry built on quality and efficiency standards while creating added value for the Egyptian economy and supporting sustainable development goals.