General Motors explores expansion plans in Egypt
Updated 3/17/2026 10:16:00 AM
Arab Finance: Minister of Investment and Foreign Trade Mohamed Farid met with a delegation from General Motors to discuss the company's expansion plans in Egypt, according to a statement.
The meeting addressed the government’s efforts and strategy to localize the automotive industry and increase the sector's contribution to the gross domestic product (GDP).
Farid highlighted the need to localize industry to boost industrial exports, attract more foreign direct investment, and enhance the competitiveness of Egypt's automotive sector, thereby maximizing its contribution to the national economy.
He noted that General Motors has manufactured more than one million vehicles in Egypt over the years, providing around 1,300 direct jobs and more than 30,000 indirect jobs through its various investments.
The company's current investments in Egypt exceeded $530 million, of which about $50 million was invested in operating systems utilizing robotics and advanced technology to improve the manufacturing process.
This boosted the local component ratio in some models to over 60%, backing the state's plans to increase reliance on locally manufactured components.
During the meeting, Farid emphasized that the ministry is developing a comprehensive framework for export incentives to maximize the benefits of Egypt's strategic location as a regional production and export hub for African and Middle Eastern markets.
Related News
