SAIC may set up car factory in Egypt

CAIRO - China's giant carmaker SAIC Motor is planning to set up a car manufacturing factory in Egypt, a top Egyptian official said on Sunday.

Egypt's Minister of Trade and Industry Tarek Kabil said in a statement that he reviewed with a visiting SAIC delegation the advantages and incentives provided by Egypt's newly approved investment law to encourage full car manufacturing, not just assembling parts, in Egypt.

"The ministry of trade and industry is ready to provide all support and assistance to help SAIC Motor enter the Egyptian market for auto manufacturing, especially in light of the state's current policy that targets boosting auto manufacturing and putting Egypt on the map of this industry," Kabil said.