Miti: Proton’s CKD exports to Egypt expected to contribute RM570m by 2026
09 Sep 2024
Proton Holdings Bhd’s completely-knocked-down (CKD) exports to Egypt is estimated to contribute 16,000 units to its total export volume from the fourth quarter of this year to the end of 2026, generating a revenue of RM570 million, said the Ministry of Investment, Trade and Industry (Miti).
Miti deputy secretary general (Industry) Datuk Hanafi Sakri said an additional RM20 million will be generated from spare parts sales to support customer service.
“Aside from the monetary aspect of trade, the establishment of a CKD plant to assemble Proton vehicles in Egypt will enable the transfer and growth of competencies in areas such as technology, best practices and expertise in the car automotive sector,“ he said in his keynote address at the official ceremony of Proton’s first CKD export to Egypt at the Proton Centre of Excellence here on Monday.
Hanafi said the project can also open the door to the formation of potential partnerships between Egyptian companies and Malaysia’s world-class parts suppliers.
“This, in turn, can open the possibility of turning Egypt into a regional assembly hub for Proton, to serve the North African market.
“It can also present further opportunities for suppliers in Malaysia to grow their export sales,” he said.
Meanwhile, Proton chairman Tan Sri Syed Faisal Albar said the export markets remain a crucial pillar for Proton.
“For Proton to achieve our ambition of becoming a sizable global market player, we cannot rely solely on the domestic market. Therefore, exports are essential.
“Proton is already present in 20 countries, including markets in Asia, the Middle East, and Africa. Today’s event is particularly significant for us, as over the past six years, Proton has exported approximately 3,200 completely built-up (CBU) units to Egypt, with the Proton Saga being the most popular model,” he said at the event.
Looking ahead, he said this will contribute to the further development of the Egyptian automotive industry, create jobs, introduce new technologies, and stimulate economic activity that will hopefully benefit both nations.
“The regional assembly hub in Egypt will be Proton’s first for left-hand-drive models overseas, and we hope this platform will also enable us to expand further into neighbouring countries, using Egypt as a hub,” he added.
Also present was Egypt’s Ambassador to Malaysia, Ragai Tawfik Said Nasr.
Source: Bernama
