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Business News to launch second annual automotive summit on 8 December - Daily News Egypt

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Business News to launch second annual automotive summit on 8 December

The new strategy of the automotive industry, investment in the Suez Canal Axis within the conference's agenda


Business News Foundation is launching its second annual summit, entitled Egypt Automotive, on 8 December, in Semiramis Intercontinental Hotel – Cairo.

The second annual summit is being held under the auspices and participation of Minister of Investment Ashraf Salman, Minister of Foreign Trade and Industry Tarek Qabil, and Chairman of Suez Canal Authority Vice Admiral Mohab Mamish.

“The summit will discuss a number of key challenges facing the automotive sector, as well as the manufacturing strategy. This is in addition to the means of building an export base for both the automotive and feeding industries sector. The summit will also discuss the government’s vision regarding the future of investment in the sector and its priorities to attract direct investment from international companies in order to have a strong presence in the Egyptian market,” said Mostafa Sakr, Chairman of Business News.

The second annual summit reserves a session to discuss the future of investment opportunities in the automotive sector, as well as in the Suez Canal Axis, to review the opportunities of constructing industrial and logistics areas to serve the automotive and related sectors, and demonstrate the experiences of other countries in building a successful automotive industry.

The summit will discuss with a number of representatives of global companies specialised in the automotive industry their vision regarding investment. The summit will also address the future of the sector in Egypt, the challenges facing those companies and how to create an attractive environment that allows for taking advantage of Egypt’s geopolitical location and the international conventions, which provide access to African markets.

The summit will further review the strategy for the automotive manufacturing and feeder industries, in addition to mechanisms to intensify local manufacturing and apply the standard specifications and replacement and renewal projects, he added.

It will discuss the financial, insurance and leasing operations and its role in the growth of the sector. It will also go through the mechanisms of providing foreign currencies to import cars and components for the local industry. The summit organises an open discussion with the automotive community about car taxes and the customs system, its impact on the sector and how to develop the rules to regulate the market’s movement and to ensure the state treasury’s privileges.

The summit will review the Cairo Governorate’s plan to build an automotive city and the proposed alternatives for how to create, finance and manage this city with the participation of the industry.  It will also shed light upon the Ministry of Interior’s plan to raise the efficiency of the traffic system and means of partnership with the private sector with regards to the automation of traffic lights and facilitating licensing, in addition to the role of safe roads role in traffic safety.

Leading officials, heads of government agencies, business organisations, heads of automotive manufacturing and trading companies, agents, distributors, global car manufacturers, investors in the feeding industries sector, banks and insurance companies will take part in the conference.

The conference comes alongside the continued success of the first summit, which brought together key industry players and state officials, attracting the attention of workers in the sector, which suffers from many challenges, despite the major opportunities for expansion and growth.

Business News, the organiser of the conference, was keen on preparing the conference’s agenda with the participation of automotive sector parties through several preparatory meetings, in order for the summit to accurately reflect the needs of the market.

Topics: business news

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