Egyptian minister: Set up Arab car manufacturer
Arab automobile manufacturers should strive towards the establishment of an Arab holding company, whose purpose will be to manufacture motorcars for the Arab markets and beyond, said Mustafa El-Rifa'i, Egypt’s minister of industry and technological development, at the start of the Second Arab International Automotive and Feeding Industries.
The establishment of such a holding company would have to be coupled with the formation of an Arab technological center for car manufacturing, which would train workers for jobs in the home-grown automobile industry, said El-Rifa'I, as quoted by Al Ahram.
According to data released at the conference, only 110,000 cars out of an annual demand of 930,000 cars in the Arab world are produced in the region. Globally, 54.6 million cars were manufactured in 1999. — (Albawaba-MEBG)
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