{"id":547281,"date":"2022-06-15T03:59:19","date_gmt":"2022-06-15T03:59:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/the-governments-automotive-strategy-dominated-the-airwaves-last-night\/"},"modified":"2022-06-15T03:59:19","modified_gmt":"2022-06-15T03:59:19","slug":"the-governments-automotive-strategy-dominated-the-airwaves-last-night","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/the-governments-automotive-strategy-dominated-the-airwaves-last-night\/","title":{"rendered":"The government\u2019s automotive strategy dominated the airwaves last night"},"content":{"rendered":"

<\/a> The government\u2019s auto strategy took center stage on the airwaves last <\/strong>night: <\/strong>Prime Minister Moustasfa Madbouly\u2019s speech on the government\u2019s automotive strategy and a number of MoUs signed on the sidelines led the conversation on the airwaves last night, with Masaa DMC (watch, runtime: 1:49<\/a>), Al Hayah Al Youm (watch, runtime: 8:01<\/a>), Yahduth Fi Masr (watch, runtime: 8:51<\/a>), and Ala Mas\u2019ouleety (watch, runtime: 30:15<\/a>) all covering the news.<\/p>\n

The drive to localize:<\/strong> Speaking at the East Port Said Industrial Zone, the PM said<\/a> that the government\u2019s goal is to expand the local production of vehicles and localize supply chains by supporting domestic feeder industries. The country has spent USD 4 bn on importing cars over the past year, which is not sustainable should car ownership continue to rise in the coming years, he said.<\/p>\n

One of the PM\u2019s advisors gave a bit more clarity on Yahduth Fi Masr<\/strong>, telling show host Sherif Amer that incentives will be provided based on the level of investment and production, the quantity of local components used, and the adoption of eco-friendly technologies (watch, runtime: 8:51<\/a>).<\/p>\n

We\u2019ve already seen some parts of the strategy in action:<\/strong> Changes to customs duties on hundreds of imported goods were passed by the House<\/a> earlier this month. Included in these were tax breaks for manufacturers who source at least 60% of components from local suppliers, and a 2% tariff on equipment used for EV charging stations and natgas filling stations, as well as a number of components used in electric buses.<\/p>\n

Want a primer on the strategy and what auto players want to see from it? <\/strong>Read our in depth Inside Industry poll here<\/a>.<\/p>\n

A number of agreements were signed at the event:<\/strong><\/p>\n