25 August 2019 07:37 AM

Mercedes's decision to positively affect Egypt's investment climate

Saturday، 19 January 2019 - 11:41 AM

Presidential spokesman Bassam Rady said Friday a decision taken by Mercedes-Benz to resume manufacturing and assembly of cars in Egypt will have positive effects on the country's investment climate, credit rating, and is expected to encourage other companies to come to invest in Egypt.

The decision sends a positive message to the world's business community, Rady told MENA.

It is not just about the return of a giant company to the Egyptian market, it will help attract more investments into Egypt in the future, he added.

The spokesman highlighted board member Markus Schaefer statements as saying that Egypt is "an attractive and competitive location for production and supporting logistics."

"With regard to the new capital in Egypt and the planned new smart cities, Daimler; the parent company of Mercedes-Benz, has offered its expertise in modern mobility concepts, electro-mobility and electric cars as well as autonomous driving," Mercedes-Benz said in the statement.

It shows that Egypt is entering a new era of mobility systems in line with the vision of President Abdel Fattah El Sisi for an Egyptian future characterized by modernity and relying on the latest global technologies, the spokesman concluded.


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