lieutenant general, "Abdel Moneim El-Terras," Chairman of the Arab Organization for Industrialization, affirmed the follow-up of President "Abdel-Fattah El-Sisi" and his directives to deepen local manufacturing, transfer and localization of technology in the field of automotive industry of all kinds in partnership with international companies specialized in this field.

This came during a visit by a delegation of the Japanese international company "Mitsubishi Motors" and in the presence of "Diamond International Motors".

This visit comes within the framework of the "Arab Industrialization" strategy to expand the horizons of partnerships and cooperation with major international companies according to the latest systems of the fourth industrial revolution and increase investment opportunities in Egypt.

The talks dealt with the manufacturing capabilities of the Arab Organization for Industrialization and the expertise Mitsubishi has in the automotive industry and environmentally friendly transportation.

The vision of the Arab Organization for Industrialization was also presented on deepening local industrialization through cooperation with the Japanese company, defining mechanisms to enhance cooperation and agreeing to exchange visits to identify possibilities and needs and the possibility of transferring and localizing modern technology in the automotive industry.

In this regard, "The Terrace" pointed to the aspiration of Arab Industrialization to conclude a true partnership and cooperation with "Mitsubishi" and to launch joint investment projects in the automotive sector, stressing the implementation of the directives of President "Abdel Fattah El-Sisi" to the authority to transfer and localize technology and deepen local manufacturing in the field of industry Cars and the transformation from assembly to manufacture in cooperation and partnership with global experiences.

He added that it was agreed to define areas for joint cooperation in the field of automobile "pick-up" with single and double cabins and to deepen auto-feeding industries, in addition to training and qualification of human cadres according to the latest advanced training systems, stressing the agreement to increase the proportions of the local component gradually and the added value.

The “Terrace” mentioned the importance of pumping new investments in the field of vehicle and feeder industries, and raising the efficiency of labor needed by these industries to raise the level of competitiveness in this sector and put Egypt on the global investment map to achieve the benefit of the consumer by providing the needs of the local market with high quality and competitive prices, stressing that Egypt has attractive competitive ingredients, in the forefront of which are skilled labor, which makes it possible for Egypt to become a center for exporting cars to countries in the region at a competitive cost.

 He also clarified that we aim to meet the needs of the local market through products that suit the atmosphere and roads in Egypt and then export to Arab, African and European markets to benefit from customs exemptions that Egypt enjoys through trade agreements concluded between Egypt and a number of countries and economic blocs around the world.

For their part, Mr. "Kato Takao" President of "Mitsubishi Motors" company praised the Egyptian government 's move towards localizing the auto industry and providing multiple incentives to investors, stressing that the Egyptian market is large and promising and constitutes a strategic importance for the Arab and African region.

He added that "Mitsubishi" is looking to settle modern technology for the projects implemented by the company in Egypt, in addition to training Egyptian cadres on this modern technology in the automotive industry, which was welcomed by the team "The Terrace", explaining that the directions of political leadership are clear in this area, which is the localization of the auto industry in all Sectors in Egypt.

Mr. Talal Anwar Al-Mulla, Chief Executive Officer of Al-Mala Holding Group and Chairman of the Diamond International Motors Company, pointed out the importance of benefiting from the advanced industrial base at the Arab Organization for Industrialization to achieve partnership and cooperation in many aspects of manufacturing, praising the industrial and technical capabilities of the Arab Organization for Industrialization and the richness and diversity of its products And what it has of human cadres trained at a high level of efficiency in addition to its accuracy and efficiency in the implementation of the projects assigned to it and delivered at the specified times.