He stated that the project aims to meet local market demand and serve as a hub for exports, taking advantage of the strong support the Egyptian government—under the leadership of Prime Minister Dr. Mostafa Madbouly—provides to the automotive industry.
Feng Xingya, Chairman of Chinese automaker GAC Group, has announced the company's intention to invest $300 million to establish a car manufacturing plant in Egypt.
He stated that the project aims to meet local market demand and serve as a hub for exports, taking advantage of the strong support the Egyptian government—under the leadership of Prime Minister Dr. Mostafa Madbouly—provides to the automotive industry.
The announcement came during a meeting between Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), and Wang Weizhong, Governor of China’s Guangdong Province.
The meeting was attended by a delegation that included representatives from various governmental bodies in the province, as well as Chinese companies either already operating in Egypt or seeking to invest in its market—including Midea, Oppo, ZTE, and GAC.
Zhou Peng, CEO of ZTE Egypt, also expressed the company’s plans to expand its presence in the Egyptian market and localize Chinese technology. He emphasized the growing demand from Egyptian telecom service providers for advanced infrastructure development, which presents a major opportunity for ZTE.
