{"id":599313,"date":"2019-06-25T04:00:06","date_gmt":"2019-06-25T04:00:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/egypt-signs-agreement-for-mercedes-benz-to-bring-its-automotive-assembly-to-the-sczone\/"},"modified":"2019-06-25T04:00:06","modified_gmt":"2019-06-25T04:00:06","slug":"egypt-signs-agreement-for-mercedes-benz-to-bring-its-automotive-assembly-to-the-sczone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/25\/egypt-signs-agreement-for-mercedes-benz-to-bring-its-automotive-assembly-to-the-sczone\/","title":{"rendered":"Egypt signs agreement for Mercedes-Benz to bring its automotive assembly to the SCZone"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a><b> Mercedes-Benz to jump back into auto assembly in Egypt through SCZone:<\/b> Trade and Industry Minister Amr Nassar signed yesterday an MoU that could see Mercedes-Benz resume the assembly of passenger cars in Egypt after a four-year hiatus, according to <a href=\"http:\/\/www.cabinet.gov.eg\/Arabic\/MediaCenter\/CabinetNews\/Pages\/%D8%B2%D9%8A%D8%A7%D8%B1%D8%A9-%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D8%A5%D9%84%D9%89-%D9%85%D9%82%D8%B1-%D8%B4%D8%B1%D9%83%D8%A9-%D9%85%D8%B1%D8%B3%D9%8A%D8%AF%D8%B3-%D9%81%D9%89-%D8%B4%D8%AA%D9%88%D8%AA%D8%AC%D8%A7%D8%B1%D8%AA.aspx\">a cabinet statement<\/a>. The pact, which Nassar signed during a visit to Stuttgart, Germany, with Prime Minister Moustafa Madbouly, will see Mercedes-Benz set up a plant in the Suez Canal Economic Zone (SCZone). The signing comes days after the Madbouly Cabinet\u2019s dispute resolution committee <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/24\/customs-dispute-with-mercedes-benz-importer-cleared\/\">ruled in favor of an importer of Mercedes-Benz vehicles<\/a> in its EGP 700 mn dispute with Egypt\u2019s Customs Authority.<\/p>\n<p><b>The move will improve the company\u2019s market position and boost the Egyptian economy,<\/b> Mercedes parent company Daimler <a href=\"https:\/\/media.daimler.com\/marsMediaSite\/en\/instance\/ko\/Mercedes-Benz-Cars-signs-a-Memorandum-of-Understanding-for-new-car-assembly-in-Egypt.xhtml?oid=43697841&ls=L2VuL2luc3RhbmNlL2tvLnhodG1sP29pZD00ODM2MjU4JnJlbElkPTYwODI5JmZyb21PaWQ9NDgzNjI1OCZib3JkZXJzPXRydWUmcmVzdWx0SW5mb1R5cGVJZD00MDYyNiZ2aWV3VHlwZT10aHVtYnM!&rs=0\">said in a statement<\/a>.J\u00f6rg Burzer, an executive board member at Mercedes-Benz, said that the agreement would allow the company to \u201cstructure our production network even more flexibly and efficiently, and respond even better to the needs of our customers.\u201d<\/p>\n<p><b>Mercedes-Benz will assemble with a local partner<\/b>, but the statement does not name the partner or get into specifics on ticket size of the investment or how many cars it could produce.<\/p>\n<p><b>The German group also raised the prospect of further investment down the road,<\/b> hinting that it could establish a \u201clogistical hub\u201d in the SCZone and expand its dealer network.<\/p>\n<p><b>Background:<\/b> The luxury car maker had shut down its Egyptian assembly line in mid-2015 amid FX shortages. The move came just as completely built-up cars (CBUs, or fully assembled imports) became more cost-competitive in Egypt amid falling tariffs on EU cars, which hit zero at the beginning of 2019. The company had \u201cagreed in principle\u201d in 2017 to resume assembly, and production chain boss Markus Schaefer confirmed this to Prime Minister Moustafa Madbouly <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/13\/mercedes-to-resume-egypt-assembly-soon-senior-exec-says\/\">earlier this year<\/a>.<\/p>\n<p><b>More business with the Germans:<\/b> Nassar also signed an MoU with Germany\u2019s Bosch und Siemens Hausger\u00e4t (BSH) for the company\u2019s planned home appliances factory in Egypt\u2019s 10th of Ramadan industrial city, according to <a href=\"http:\/\/www.cabinet.gov.eg\/Arabic\/MediaCenter\/CabinetNews\/Pages\/stut.aspx\">a cabinet statement<\/a>. The New Urban Communities Authority (NUCA) had <a href=\"https:\/\/enterprise.press\/stories\/2018\/11\/08\/germanys-bsh-to-set-up-home-appliances-factory-in-egypt\/\">agreed last year<\/a> to allocate 10 acres in the industrial city for the plant. BSH <a href=\"https:\/\/enterprise.press\/stories\/2018\/01\/28\/germanys-bsh-looking-to-establish-eur-80-mn-home-appliances-factory-in-egypt\/\">had previously said<\/a> it plans to establish a EUR 80 mn home appliances factory with a production capacity of 400k units per year.<\/p>\n<p><b>In other news from Germany:<\/b> The German government is planning to offer as much as EUR 400 mn to finance technical education, entrepreneurship, and domestic manufacturing in Egypt, <a href=\"https:\/\/alborsaanews.com\/2019\/06\/24\/1217013\">German ambassador to Egypt Georg Luy said<\/a> without providing further details on the loan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mercedes-Benz to jump back into auto assembly in Egypt through SCZone: Trade and Industry Minister Amr Nassar signed yesterday an MoU that could see Mercedes-Benz resume the assembly of passenger cars in Egypt after a four-year hiatus, according to a cabinet statement. The pact, which Nassar signed during a visit to Stuttgart, Germany, with Prime [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":599314,"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":[8572],"tags":[11051,144,72,7196,3526,281,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-amr-nassar","tag-automotive","tag-enterpriseam","tag-industry","tag-mercedes-benz","tag-moustafa-madbouly","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"b2b44a36-c221-4940-89b2-832dba1a3b73","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/6\/2661.jpg","photo_position":"above","related_issue":[599308],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt signs agreement for Mercedes-Benz to bring its automotive assembly to the SCZone - 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\/2019\/06\/25\/egypt-signs-agreement-for-mercedes-benz-to-bring-its-automotive-assembly-to-the-sczone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt signs agreement for Mercedes-Benz to bring its automotive assembly to the SCZone\" \/>\n<meta property=\"og:description\" content=\"Mercedes-Benz to jump back into auto assembly in Egypt through SCZone: Trade and Industry Minister Amr Nassar signed yesterday an MoU that could see Mercedes-Benz resume the assembly of passenger cars in Egypt after a four-year hiatus, according to a cabinet statement. 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The automaker, which suspended assembly in Egypt in 2015 as the FX crisis deepened, has apparently agreed to reopen assembly operations in Egypt, Suez Canal Economic Zone (SCZone) Chairman Mohab Mamish announced in a presser on Tuesday to much fanfare. He added that 96,000\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":641224,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/17\/mercedes-benz-agrees-in-principle-to-resume-assembling-in-egypt\/","url_meta":{"origin":599313,"position":2},"title":"Mercedes-Benz \u201cagrees in principle\u201d to resume assembling in Egypt","author":"enterpriseam admin","date":"17 September 2017","format":false,"excerpt":"Mercedes-Benz \u201cagrees in principle\u201d to resume assembling in Egypt? Mercedes-Benz \u201chas agreed in principle\u201d resume car assembly in Egypt, according to a statement by the Suez Canal Development Authority (SCZone) picked up by Al Shorouk. The company decision was taken following a meeting between company representatives and SCZone head Mohab\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638696,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/11\/sczone-board-meets-to-decide-on-allocating-land-to-mercedes-benz\/","url_meta":{"origin":599313,"position":3},"title":"SCZone board meets to decide on allocating land to Mercedes-Benz","author":"enterpriseam admin","date":"11 October 2017","format":false,"excerpt":"The Suez Canal Economic Zone\u2019s (SCZone) board reportedly met yesterday to discuss allocating land to Mercedes-Benz, said sources who reiterated that the company is indeed planning a regional logistics and distribution hub in the SCZone, Al Borsa reports. SCZone Chairman Mohab Mamish had announced last month that Mercedes-Benz will be\u2026","rel":"","context":"In &quot;Automotive + Transportation&quot;","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603405,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/customs-payment-dispute-with-mercedes-importer-returns\/","url_meta":{"origin":599313,"position":4},"title":"Customs payment dispute with Mercedes importer returns","author":"enterpriseam admin","date":"22 April 2019","format":false,"excerpt":"DISPUTE WATCH- Customs dispute with Mercedes importer in Egypt is back from the dead: A dispute between the Customs Authority and an Egyptian importer of Mercedes-Benz cars that was settled earlier this year has apparently resurfaced and is now before the Investment Ministry\u2019s dispute resolution committee to be sorted out,\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637734,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/23\/mamish-insists-it-is-a-matter-of-time-before-mercedes-benz-starts-operating-in-egypt\/","url_meta":{"origin":599313,"position":5},"title":"Mamish insists it is a matter of time before Mercedes-Benz starts operating in Egypt","author":"enterpriseam admin","date":"23 November 2017","format":false,"excerpt":"INVESTMENT WATCH- Suez Canal Economic Zone (SCZone) Chairman Mohab Mamish is still saying that Mercedes-Benz had approved establishing a regional logistics and distribution hub in the zone. He said that the company had cleared their \u201ctax hurdles\u201d in Egypt and will launch operations \u201csoon,\u201d according to Al Mal. There has\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"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\/599313","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=599313"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599313\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/599308"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/599314"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=599313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=599313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=599313"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=599313"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=599313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}