Friday 22 Nov
Walid Gamal El-Din, Chairman of the Suez Canal Economic Authority, convened a meeting with Yuan Wusheng, President of Dayun Guangzhou Automotive Manufacturing Company, at the Authority's headquarters in the New Administrative Capital. The meeting was attended by several Authority officials, company representatives, and representatives from TEDA Egypt.
The purpose of the meeting was to
explore Dayun's plans to expand its vehicle manufacturing operations in Egypt.
These plans include a significant increase in the production of various
vehicles, including those powered by traditional fuels, green fuels, and
electric energy. This diverse range of vehicles encompasses motorcycles,
passenger cars, light-duty vehicles, and medium and heavy-duty trucks.
He reviewed the company's current
operations and discussed expansion plans, which include establishing new
production lines aimed at deepening the industry, increasing local content, and
manufacturing components and spare parts. The meeting also explored various
vehicle models that the company intends to produce, such as electric passenger
cars, large and medium-sized trucks (particularly those used in construction
and contracting), and light-duty vehicles.
The head of the Authority
emphasized the numerous incentives available within the zone, including low
operating costs compared to other countries. He also highlighted the recently
introduced special incentives for the automotive industry, provided by the
Egyptian government through the national automotive strategy. He pointed out the
government's keen interest in attracting major automakers and suppliers of
components and spare parts to expand operations and increase the local
component rate, which is crucial for the development of this vital sector.
Yuan Wusheng, the head of Dayun Company, outlined the company's vision and anticipated executive steps for expansion within the economic zone, emphasizing the exceptional support provided by the Authority to investors operating within its jurisdiction. He affirmed that the Egyptian market is a highly promising market, highlighting the abundant opportunities presented by the neighboring markets due to Egypt's free trade agreements with international blocs and its strategic location, which will facilitate the company's global market presence.
