Rédaction Africa Links 24 with MENA
Published on 2024-02-01 10:29:22
Prime Minister Mostafa Madbouly emphasized the government’s increased focus on the role of the private sector in its development plans. He highlighted the contribution of Yazaki, a Japanese car parts supplier, to the localization and strengthening of projects for manufacturing car components as per the National Strategy for Developing the Automotive Industry. The company specializes in producing wire harnesses used in various applications such as engine management, infotainment, and safety systems.
During a meeting with representatives from Yazaki Europe Limited Corporation in the government district in the New Administrative Capital (NAC) on January 31st, 2024, the Prime Minister discussed the project for manufacturing electric wire harnesses for cars in Fayyoum governorate, which involves an investment of 30 million euros ($33.27 million). Madbouli expressed his keenness to meet with the company’s delegation after laying the foundation stone for the factory producing electric wire harnesses, car components, and electric systems in Fayyoum.
The government’s emphasis on the private sector’s role in development aligns with its efforts to boost the automotive industry, which is an important sector for the economy. By collaborating with international companies like Yazaki, the government aims to enhance the local manufacturing of car components and systems, which can contribute to job creation and skill development in the automotive sector.
Yazaki’s investment in the production of wire harnesses for cars demonstrates its commitment to the Egyptian market and its confidence in the country’s potential for growth and development. The localization of manufacturing processes for car components aligns with the government’s goals of increasing domestic production and reducing reliance on imports.
The meeting between the Prime Minister and Yazaki’s delegation signifies a step forward in the collaboration between the government and the private sector to advance the automotive industry. It also highlights the government’s willingness to engage with international companies to drive growth and innovation in key sectors of the economy.
The investment of 30 million euros in the project for manufacturing electric wire harnesses in Fayyoum reflects the confidence of international companies in Egypt’s economic potential. The project is expected to contribute to the development of the automotive industry, create job opportunities, and pave the way for further advancements in technology and manufacturing processes.
In conclusion, the government’s recognition of the private sector’s role in driving development, particularly in the automotive industry, is evident in its collaboration with companies like Yazaki. The investment in the production of wire harnesses for cars and the focus on localizing manufacturing processes align with the government’s strategic goals for economic growth and development. The meeting with Yazaki’s delegation marks a significant step in the partnership between the government and the private sector, signaling a commitment to advancing key sectors of the economy and promoting innovation and investment in Egypt.
Read Original article on Egypt Independent
