{"id":609937,"date":"2023-11-13T00:00:00","date_gmt":"2023-11-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/volkswagen-to-work-with-govt-on-auto-industrial-zone-study\/"},"modified":"2023-11-13T00:00:00","modified_gmt":"2023-11-13T00:00:00","slug":"volkswagen-to-work-with-govt-on-auto-industrial-zone-study","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/volkswagen-to-work-with-govt-on-auto-industrial-zone-study\/","title":{"rendered":"Volkswagen to work with gov\u2019t on auto industrial zone study"},"content":{"rendered":"

Volkswagen is onboard with our efforts to localize our auto industry: <\/strong>The Madbouly government and German carmaker Volkswagen will conduct feasibility studies for the establishment of the planned East Port Said Automotive Zone (EPAZ) under an agreement inked between the two sides yesterday, a cabinet statement<\/a> said yesterday. <\/p>\n

What\u2019s VW doing? <\/strong>Volkswagen will provide the General Authority of the Suez Canal Economic Zone (SCZone), the Sovereign Fund of Egypt, and the East Port Said Development Company<\/a> with technical assistance as they work on the zone\u2019s feasibility study, the statement added, without providing further details of the agreement. <\/p>\n

EPAZ? <\/strong>The complex, which could be home to vehicle assemblers and part manufacturerson the banks of the Suez Canal, popped up<\/a> on our radar in June of this year, but has already attracted a lot of attention<\/a> from industry insiders. The hub aims to attract global players to East Port Said on the back of proximity to global shipping lanes and better access to African and Middle Eastern markets. A range of incentives will be on offer based upon what the company\u2019s operations add to the local economy and industry, investment size, production volume, and environmental compliance. <\/p>\n

How big is this plan<\/strong>? <\/strong>The zone aims to attract investments worth some USD 240 mn and provide around 2.1k direct jobs and 4k indirect jobs as it attracts companies in feeder industries, according to the cabinet statement. African Association of Automobile Manufacturers\u2019 vice president Ahmed Fikry Abdel Wahab told Enterprise earlier in the year that the automotive industry \u201cisn\u2019t just about the factory that assembles vehicles. It\u2019s about all the feeding industries that provide all sorts of components \u2014 wiring, harnesses, seats, dashboard glass, interior carpeting, tires, etc.\u201d<\/p>\n

Volkwagen wants in on EPAZ because it wants in on the local industry: <\/strong>Volkswagen Group\u2019s Africa head said that the company wants to up its presence in the country and jump on board with efforts to localize the industry under the recently launched Automotive Industry Development Program<\/a> (AIDP).<\/p>\n

A foothold in Egypt gives you access to the African market: <\/strong>The Volkswagen regional boss added that it plans to use Egypt as a regional hub as part of \u201cVolkswagen\u2019s strategy to play a pioneering role in developing the automotive industry in Africa.\u201d<\/p>\n

** We dove into all things East Port Said Automotive Zone <\/strong>in an Inside Industry<\/a> published earlier this year. <\/p>\n","protected":false},"excerpt":{"rendered":"

The project is aiming to attract USD 240 m in investments and employ 6k people<\/p>\n","protected":false},"author":1,"featured_media":609938,"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":[144,8671,72,131,1123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-609937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-automotive","tag-east-port-said-automotive-zone","tag-enterpriseam","tag-manufacturing","tag-volkswagen","wpautop","entry"],"acf":{"mongo_id":"601334bb-70b3-47ce-b5cb-765875e6f635","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/592.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Volkswagen to work with Egyptian gov\u2019t on auto industrial zone study","related_issue":[609932],"teaser":"The project is aiming to attract USD 240 m in investments and employ 6k people","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.7e262872-592b-4c4a-a9a6-82e2f7ad4404.mp3"},"yoast_head":"\nVolkswagen to work with gov\u2019t on auto industrial zone study - 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\/2023\/11\/13\/volkswagen-to-work-with-govt-on-auto-industrial-zone-study\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Volkswagen to work with gov\u2019t on auto industrial zone study\" \/>\n<meta property=\"og:description\" content=\"The project is aiming to attract USD 240 m in investments and 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the construction and management of a new platform and container\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":609987,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/13\/this-evening-kuwait-tops-up-usd-4-bn-deposit-with-cbe-before-next-years-expiry-date-dp-worlds-sokhna-logistics-zone-to-begin-construction-this-month\/","url_meta":{"origin":609937,"position":3},"title":"THIS EVENING: Kuwait tops up USD 4 bn deposit with CBE before next year\u2019s expiry date + DP World\u2019s Sokhna logistics zone to begin construction this month","author":"enterpriseam admin","date":"13 November 2023","format":false,"excerpt":"Good afternoon, friends, and welcome to this busy Monday as fresh FX and investment updates are hitting our news cycle. THE BIG STORIES TODAY #1- Kuwait has renewed its USD 4 bn deposit with the Central Bank of Egypt as Egypt continues to face an FX shortage and ahead of\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/376.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":631599,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/22\/auto-parts-manufacturers-in-talks-with-renault-volkswagen-to-make-and-export-parts-to-regional-assembly-facilities\/","url_meta":{"origin":609937,"position":4},"title":"Auto parts manufacturers in talks with Renault, Volkswagen to make and export parts to regional assembly facilities","author":"enterpriseam admin","date":"22 March 2018","format":false,"excerpt":"Auto parts manufacturers said to be in talks with Renault, Volkswagen to make and export parts to regional assembly facilities: Local auto parts producers are in talks with European car makers, including Renault and Volkswagen, to begin making and exporting parts for production and assembly facilities across the region, Egyptian\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634659,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/21\/mamish-with-volkswagen-delegation-to-discuss-potential-investment-in-sczone\/","url_meta":{"origin":609937,"position":5},"title":"Mamish with Volkswagen delegation to discuss potential investment in SCZone","author":"enterpriseam admin","date":"21 January 2018","format":false,"excerpt":"A delegation from Volkswagen met with Suez Canal Authority head Mohab Mamish on Thursday to discuss potential investment in the Suez Canal Economic Zone. The visit follows up on Mamish\u2019s tour of Germany last year which meant to drive business towards the area, particularly in the fields of automotive, energy,\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\/609937","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=609937"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/609937\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/609932"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/609938"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=609937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=609937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=609937"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=609937"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=609937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}