{"id":568175,"date":"2020-12-21T03:34:45","date_gmt":"2020-12-21T03:34:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/21\/automotive-focused-fund\/"},"modified":"2020-12-21T03:34:45","modified_gmt":"2020-12-21T03:34:45","slug":"automotive-focused-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/21\/automotive-focused-fund\/","title":{"rendered":"Automotive-focused fund?"},"content":{"rendered":"

<\/a> The automotive industry could be getting a boost from a fund the government is <\/strong>mulling to encourage local manufacturing<\/strong>, especially automotive components and vehicle assembly, said Trade Minister Nevine Gamea, according to a cabinet statement<\/a>. The fund would also support manufacturing in other sectors where Egypt could have a competitive advantage, with an eye to establish Egypt a regional manufacturing hub, Gamea said.<\/p>\n

Anyone else having flashbacks <\/strong>to the never-ending discussion of the so-called \u201cautomotive directive\u201d<\/a>?<\/p>\n

The plan will begin with the launch of the government\u2019s <\/strong>campaign<\/a><\/strong>to convert existing vehicles to natural gas engines<\/strong>, which will kick off at the start of 2021<\/a>. The government will turn its attention to electric vehicles at a later stage after the necessary infrastructure, such as charging stations, is in place Gamea said. Egypt has been pushing for a shift to clean energy vehicles that run on natural gas and electricity, and will convert 250k old cars to dual-fuel engines by the end of 2023 under the first phase of the natgas transition plan.<\/p>\n

For more on the government\u2019s nat-gas conversion scheme<\/strong>, take a look our in depth pieces on the plan in our weekly infrastructure vertical Hardhat: Part 1<\/a> | Part 2<\/a> | Part 3<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The automotive industry could be getting a boost from a fund the government is mulling to encourage local manufacturing, especially automotive components and vehicle assembly, said Trade Minister Nevine Gamea, according to a cabinet statement. The fund would also support manufacturing in other sectors where Egypt could have a competitive advantage, with an eye to […]<\/p>\n","protected":false},"author":1,"featured_media":568176,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7339],"tags":[144,72,131,331],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-automotive","tag-enterpriseam","tag-manufacturing","tag-nevine-gamea","wpautop","entry"],"acf":{"mongo_id":"278ac151-570c-42ea-a0e5-f06df461e23f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/12\/346.jpg","photo_position":"above","related_issue":[568168],"teaser":"","voice_url":""},"yoast_head":"\nAutomotive-focused fund? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/21\/automotive-focused-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Automotive-focused fund?\" \/>\n<meta property=\"og:description\" content=\"The automotive industry could be getting a boost from a fund the government is mulling to encourage local manufacturing, especially automotive components and vehicle assembly, said Trade Minister Nevine Gamea, according to a cabinet statement. The fund would also support manufacturing in other sectors where Egypt could have a competitive advantage, with an eye to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/21\/automotive-focused-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-21T03:34:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/346.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/21\/automotive-focused-fund\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/21\/automotive-focused-fund\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Automotive-focused fund?\",\"datePublished\":\"2020-12-21T03:34:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/21\/automotive-focused-fund\/\"},\"wordCount\":200,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/21\/automotive-focused-fund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/346.jpg?fit=%2C&ssl=1\",\"keywords\":[\"automotive\",\"EnterpriseAM\",\"Manufacturing\",\"Nevine Gamea\"],\"articleSection\":[\"Automotive\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/21\/automotive-focused-fund\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/21\/automotive-focused-fund\/\",\"name\":\"Automotive-focused fund? 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The proposed method should\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/9\/2604.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":627018,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/17\/sme-authority-in-talks-with-world-bank-for-usd-300-mn-loan\/","url_meta":{"origin":568175,"position":3},"title":"SME Authority in talks with World Bank for USD 300 mn loan","author":"enterpriseam admin","date":"17 July 2018","format":false,"excerpt":"The Small and Medium Enterprise Authority is in talks with the World Bank for a USD 300 mn loan to finance new projects, boss Nevine Gamea said yesterday, Youm7 reports. 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AMIC data shows that around 18.9k cars were sold in March, down from 19.5k in the same period last year. That ends a run\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/80.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569514,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/26\/egypt-south-korea-mull-economic-partnerships\/","url_meta":{"origin":568175,"position":5},"title":"Egypt, South Korea mull economic partnerships","author":"enterpriseam admin","date":"26 February 2020","format":false,"excerpt":"Egypt, South Korea mull economic partnerships: Egypt and South Korea have set up a joint expert to committee to explore potential trade and manufacturing, oil and gas, ICT, education, and SME partnerships, Trade Minister Nevine Gamea said following a meeting with a Korean business delegation headed by her Korean counterpart,\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=568175"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568175\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/568168"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/568176"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=568175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=568175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=568175"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=568175"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=568175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}