Lieutenant General Eng. Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport participated in the Ezz Al-Arab Elsewedy Automotive Group’s celebration of the opening of the Proton Saga car factory, in the presence of Anwar Ibrahim, Prime Minister of Malaysia, the Ministers of Foreign Affairs, Trade and Natural Resources of the State of Malaysia and Engineer Hisham Ezz Al-Arab, Chairman of the Board of Directors of Ezz Al-Arab Al-Suwaidi Group, and Sayed Faisal Al-Bar, Chairman of the Board of Directors of Proton Company.
At the beginning of his speech during the opening activities, the Deputy Prime Minister for Industrial Development and Minister of Industry and Transport expressed his happiness to participate in this celebration held by the Ezz Al-Arab Al-Suwaidi Group, which is the exclusive agent for the Malaysian Proton brand, as the factory is scheduled to begin producing the car in December 2024.
The Minister stressed that Egypt and Malaysia have close relations at all levels, as Egypt is the fifth largest African trading partner of Malaysia, as the volume of trade exchange between the two countries has grown in recent years by 55%, and Egyptian exports to Malaysia have also achieved a growth of 35%, and the most important… These exports include phosphate, fertilizers, agricultural crops, and iron), while Malaysian investments in Egypt were concentrated in the sectors of oil, gas, electricity, contracting, tourism, and information technology.
The Minister explained that this important opening coincides with the official visit of Anwar Ibrahim, Prime Minister of Malaysia, to Egypt and his meeting with President Abdel Fattah El-Sisi, President of the Republic, where the two sides agreed to strengthen political relations between the two countries, and for Malaysia to host the second meeting of the Egyptian-Malaysian Joint Committee during the coming period. The two sides also appreciated the efforts made to deepen joint cooperation in the fields of digital economy, agricultural commodities, infrastructure development, and renewable energy. The two sides also stressed the importance of the free trade agreements of the Association of Southeast Asian Nations (ASEAN) and the Common Market for Eastern and Southern Africa (COMESA) to achieve the benefit of both countries.
The Minister pointed out that Egyptian-Malaysian cooperation is currently taking a new form in one of the strategic industrial fields, which is the automobile industry, which represents an important step within the framework of the national strategy for the localization of the industry, as it entails the establishment of high-level feeder industries. This joint cooperation has resulted in the establishment of the Swedish Ezz Al-Arab factory, which aims Achieving an annual production capacity of up to 40 thousand cars (and reaching 80 thousand cars at a later stage) with a local component of 48%, with an expected investment volume of 3 billion pounds, and the percentage of exports reaching 10% in the first year, increasing in the following years, in addition to the opportunities that the factory will provide. He created up to 300 job opportunities, pointing out that the automobile industry in Egypt aims to reach the economies of mass production and qualify to establish a real automobile industry instead of just assembling them, which contributes to pumping more local and foreign investments.
The Minister noted that participation in the celebration of the opening of the Swedish Ezz Al-Arab factory for manufacturing Proton cars comes out of keenness to support and encourage increasing the production capacities of factories with the aim of providing the needs of the local market, especially in the field of automobile manufacturing, and then exporting abroad with high quality and competitive prices, in implementation of the directives of His Excellency Mr. President. The Republic is transforming Egypt into a regional industrial center in accordance with the latest environmental and sustainable standards, indicating that within the framework of achieving this trend, the Ministry of Industry has prepared the National Strategy for Industry (2024/2030), which includes the future vision in light of the capabilities that Egypt enjoys in terms of the regional center and strategic location. The diversity of resources, advanced infrastructure, the development of financial and monetary policies, investment incentives and guarantees, and the increase in market size, with the presence of the main capabilities for the development of green industries and industrial sectors qualified to deepen local industrialization.
The Minister invited Malaysian companies to invest in Egypt and exploit this investment as a launching pad for export to broader markets with which Egypt has free trade agreements, such as the European Union, COMESA, Arab countries, Turkey, and others, allowing the growth of the Egyptian and Malaysian economies.
The Minister stressed the Ministry of Industry’s keenness to support the state’s efforts in transitioning towards a green economy and improving the quality of the local product, thus increasing Egyptian exports and their ability to compete in global markets and conforming to standard specifications to achieve the 2030 Sustainable Development Goals, praising the great efforts of Egyptian factories and advanced industrial edifices such as Ezz Company’s factories. Arab Automotive to adopt innovative technologies, prepare global centers for production and export and expand throughout the Middle East and Africa to reach a better future.
At the end of his speech, the Deputy Prime Minister for Industrial Development and the Minister of Industry and Transport extended his sincere thanks and appreciation to the officials of the Ezz Al-Arab Al-Suwaidi Group for their efforts in supporting the automobile industry in accordance with international production mechanisms, wishing all ambitious industrial companies operating in Egypt success in what contributes to strengthening Egypt’s position on the manufacturing map. and international export, leading to creating a more sustainable future for Egypt in the coming years.
