The African Association of Automotive Manufacturers (AAAM) has signed a memorandum of understanding (MoU) with the automotive industry unit, affiliated with the Ministry of Trade and Industry, to provide technical support for the implementation of the Egyptian Automotive Industry Development Program (AIDP), the cabinet stated on June 5th. Under the deal, AAAM will provide technical support to the automotive industry unit, in addition to digitizing information documents and offering the needed automated operation systems. AAAM will also prepare detailed models regarding the imported components (ICs), set audit procedures, and submit a report on production incentives and the value of local and imported components. Furthermore, AAAM’s expert will assist in boosting the localization of the automotive industry in Egypt via forming a work group headed by the unit’s chair to ensure the implementation of projects of top priority. Copyright © 2022 Arab Finance Brokerage Company All rights reserved.

Source: The North Africa Journal June 06, 2023 10:02 UTC