Automotive expert Engineer Mohamed Shetaa hailed the construction of the Integrated Cars’ City as it will provide a full range of logistical services for vehicle owners.
Automotive expert Engineer Mohamed Shetaa hailed the construction of the Integrated Cars’ City as it will provide a full range of logistical services for vehicle owners. He shed light on the economic importance of the automotive city as a very civilized way of buying and selling new cars after it replaced the old market in Nasr City.
In the light of President Abdel Fattah e-Sisi's inspection of the progress of work in the city, he added over the phone to (Breakfast Show) that the city will compile all the facilities needed, accommodate more than 4000 cars in the first stage and will grow bigger. He hoped that Egypt would establish more cities all around the country.
He explained the new automotive law for Egyptian expats that allow them to import a new or used car without the so-called 1st owner approval. This new law could bring to Egypt from 50 to one million cars annually, he asserted.
He elaborated that this initiative is very beneficial to the government in terms of receiving new foreign currency as the new law demands that each expat pays the customs in the form of bank transfer which will be left for five years in the bank account of the Egyptian government in foreign currency. After the five years, the expat will receive that amount back in Egyptian pounds, thus it is beneficial for the expats as well. On the other hand it is beneficial for the citizens living in Egypt, as the overpriced phenomenon will disappear and the prices will be reduced. A variety of different cars for the consumer will be introduced, he said.
The new law would treat the Egyptians living in the EU where there is a free trade agreement and where people can import their cars with zero customs with the so-called Euro One Certificate just like the Egyptians living outside the EU with zero customs, he added.
Shetaa elaborated that the Cars’ City lies on an area of 57 feddans at the intersection of Mohammed Naguib axis with Al-Mahajer Road. It is equipped with an integrated information system and an integrated set of high-quality services, including centers for maintenance and spare parts, he concluded.
Moreover, the city has commercial shops, administrative buildings, a compound of banks, registry offices, insurance offices, and much more.
(Breakfast Show) is aired daily. This episode is presented by Amal Mokhtar.
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