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Elham AbolFateh

Egypt

After PM meeting with Mercedes-Benz … Parliament announces great News for Egyptians

Wednesday 26/June/2019 - 10:37 AM
Sada El Balad
Translated By: Nada Moustafa
MP، Fawzy Fatey، member of the parliament industry committee predicted a decline in Cars’ prices after Prime Minister meetings with Mercedes-Benz and Bosch senior officials، during his visit to Germany.

Madbouly’s meetings with such major companies are a part of President Abdul Fattah Al-Sisi efforts to attract investors and support industry in Egypt، Fatey said in exclusive statements to “Sada ElBalad” news website.

Moreover، he noted that this visit will have fruitful results on many levels including; establishing Mercedes-Benz plants inside Suez Canal economic Zone (SCzone)، which will significantly contribute to the reduction of car prices as the cost of transporting cars from Germany to Egypt is very high.

In addition، Fatey added that setting up Mercedes-Benz Plants in Egypt will provide job opportunities، as well as exchanging expertise.

Madbouly held meetings with Mercedes-Benz and Bosch senior officials، during his current visit to Germany، to attend the 22nd Arab-German business forum.

Moreover، he signed Memorandums of Understanding (MOUs) with both plants to invest in Egypt.
Earlier on Monday، Madbouly toured the factories of Bosch in Stuttgart، a leading German multinational engineering and technology company.


During the tour of the company's factory، Madbouly was briefed on the company's current production and future investments، as well as its level of cooperation with Egypt.



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