The Egypt Automotive Summit is a great annual opportunity to exchange ideas and views for the development of the automotive industry, said Hamdy Abdel Aziz, the chairperson of the Federation of Egyptian Industries’ (FEI) Chamber of Engineering Industries. Ahead of the summit, Daily News Egypt sat down with Abdel Aziz to discuss his thoughts about …
Egypt is undergoing a new experience, and stability of the market relies on increasing foreign exchange resources
Ahmed El-Goukh, the showrooms manager at El-Ezz Motors, said that the decision to float the Egyptian pound without opening the door for imports and the shortage of foreign currency required for imports will significantly increase car prices in the Egyptian market. El-Goukh expected a substantial increase on all car prices, including used cars. Showrooms have …
In the wake of the Central Bank of Egypt’s (CBE) decision to liberate the exchange rate, opinions of workers in the automotive sector are varied as the impact of this decision on the sector is yet to be seen. Some believe that this decision was long awaited and will eliminate the recent overpricing phenomenon on …
