Bitterlich’s remarks came during a meeting with Prime Minister Mostafa Madbouly, read a cabinet statement.

During the meeting, Madbouly emphasized the promising opportunities that the Egyptian market offers in the automobile manufacturing sector, highlighting the incentives provided by the auto industry localization strategy as a key factor in attracting investment.

Madbouly emphasized the government's commitment to enhancing cooperation with all German companies operating in the country.

Bitterlich acknowledged Mercedes-Benz's interest in engaging with the automotive industry strategy launched by the Egyptian government, expressing a desire to gain a deeper understanding of the incentives provided by the strategy.

Mercedes-Benz views Egypt as a highly promising market, with significant growth potential, he added.

In June 2022, Egypt launched a strategy to localize the automotive industry.

The strategy aims to position Egypt as a key gateway for emerging vehicle markets in Africa, fostering strong commercial and investment relations with regional trade partners to ensure sustainable development for all parties involved.

As part of this strategy, the Egyptian Automotive Industry Development Programme (AIDP) was established to enhance existing assembling and manufacturing capabilities and encourage new investments in the sector.

In October 2023, the Egyptian House of Representatives approved a draft law for the formation of the Supreme Council for Automotive Industry and the establishment of the Environment-Friendly Automotive Industry Fund.