CAIRO, June 16 (MENA) - President Abdel Fattah El Sisi stressed the important role played by the Arab Organization for Industrialization (AOI) in the various sectors, especially in enhancing local manufacturing rates, localizing industry and increasing exports that would all contribute to reducing import bill and providing foreign currency to support national economy.

During a meeting Monday with Chairman of the Board of Directors of AOI Mokhtar Abdel Latif, President Sisi reviewed overall activities and projects of factories and companies affiliated to the AOI in the various fields, according to Presidential Spokesman ambassador Mohamed el-Shenawy.

The AOI is working according to a comprehensive strategy aimed at deepening local manufacturing, increasing export rates and enhancing the manufacturing and technological capabilities of all factories, in addition to cooperating with the private sector to establish joint projects, utilizing the AOI's advanced industrial capabilities, said the spokesman.

The spokesman added that the president also reviewed the frameworks of cooperation between the Authority and a number of major international companies operating in the automotive industry.

In this regard, President Sisi inspected a number of Citroën C4X vehicles, 45% of which are locally manufactured within the AOI factories, in partnership with the Arab American Vehicles (AAV) and the French Stellantis Group, the spokesman said.

The AOI chairman explained that planning for production of this model began in August 2023 and that technical and logistical preparations were completed until the initial prototypes were produced in March 2025, he added.

Abdel Latif said approximately 7,000 vehicles are planned to be produced annually for four years, at a total of 28,000 vehicles. Preparations are currently underway to produce a new vehicle in cooperation with the Stellantis Group, with production expected to begin by the end of 2026, with a total of 240,000 vehicles, according to the spokesman.

He also said these vehicles will be manufactured exclusively within the AOI's factories, without being produced in any of the group's other factories worldwide, added the spokesman.

President Sisi directed further promoting cooperation with private sector companies, both locally and internationally, with a view to supporting the State's strategy to localize the automotive industry, increase the percentage of local components, and maximize exports of products manufactured within Egypt, said the spokesman. (MENA)

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