Prime Minister Ibrahim Mahlab met with the director of Ford Cars for the Middle East and North Africa on Monday in the presence of the trade and finance ministers.

During the meeting, Mahlab said the company’s interest to increase its business in Egypt by establishing a new factory comes at the right time as the government plans to revive the automotive industry, Cabinet spokesman Hossam el Qawish said.

Ford can benefit from Egypt’s trade agreements, like the COMESA agreement, which offers preferential advantages and access to member states’ markets, Mahlab said.

The Ford director said his current visit of the country is aimed at getting familiarized with the manufacturing policies adopted by the government and investment incentives offered to the car industry to start measures for setting up a Ford factory in Egypt.

The two had agreed that a Ford delegation will visit Egypt in the coming period to hold talks with the industry and finance ministries to get acquainted with the tax and manufacturing incentives offered to car manufactures and exchange viewpoints in this regard.