INVESTMENT WATCH- Chinese auto firm Geely will turn Egypt into a regional manufacturing and distribution hub — if the “automotive directive” becomes law, senior company officials tell Al Mal. The company’s expansion plans rest on the incentives laid out by the legislation, which is designed to prompt local assemblers to go further up the value chain into manufacturing. The company is working with its licensed domestic assembler and distributor, GB Auto, on the expansion plan, which will include assembling new models annually in Egypt. Geely is targeting increasing exports to the MENA region and Europe, the officials added. As we noted earlier in the month, the House of Representatives’ Industry Committee is looking to jumpstart the automotive directive, which has languished in committee thanks to lobbying by auto importers.

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