General Motors Egypt to invest $46 m during the next 3-4 years
The General Motors logo - AFP

CAIRO: General Motors (GM) Egypt plans to increase its investments by additional $46 m during the next 3-4 years, it announced in a Sunday press statement.

Mario Spangenberg, President and Managing Director of GM Africa said “Egypt enjoys a promising investment environment with lots of potential… with diversified demands. Egypt’s strategic location promotes exports making it North Africa’s hub.”

The statement came during a session on the role of vocational training that was held Sunday on the sidelines of the Egypt Economic Development Conference (EEDC) held in Sharm el-Sheikh 13-15 March.

Spangenberg talked about the skilled Egyptian workforce and means of enhancing their talents and capabilities.

GM Egypt has employed 1,916 directly, and over 25,000 in its dealerships and supporting industries through investments reached 500 million EGP ($66 million) over the past seven years, according to the statement.

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