El-Wazir explores auto manufacturing investment in Egypt with Toyota Tsusho
Updated 1/22/2026 3:14:00 PM
Arab Finance: Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir met with a delegation from the Japanese company Toyota Tsusho to discuss investment opportunities in Egypt's automotive manufacturing field over the coming period, according to a statement.
El-Wazir reviewed the state's vision to localize the automotive industry, highlighting the incentives and competitive advantages offered by the Automotive Industry Development Program (AIDP) to serious investors.
The minister affirmed that these initiatives aim to transform Egypt into a promising regional hub for the auto sector.
He asserted the government's commitment to providing all forms of support to Toyota to expand its industrial activities within the Egyptian market.
The ministry is fully prepared to offer all necessary facilitations to enable the company to establish a factory in Egypt and to work immediately to overcome any obstacles that may hinder the project's implementation, he added.
Finally, he urged the swift follow-up and finalization of all procedures related to the proposed memorandum of understanding (MoU) submitted by the company for signing with the Egyptian government.
This MoU includes several key provisions, including a study on introducing new Toyota models for manufacturing and assembly in Egypt. This is in addition to evolving the existing locally manufactured models to enhance competitiveness both locally and globally.
Fitch Solutions recently praised Egypt's success in attracting the largest number of automotive investments in the MENA region during 2025.
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