According to local media reports in Dubai, Egypt’s ‘International Company for Car Manufacturing’ will establish a bus manufacturing plant in the Ajman Free Zone (AFZA) of the United Arab Emirates (UAE). The factory will reportedly have a production level of 50 buses a month.
A report in Gulf News says that the Egyptian firm has already purchased the land for the plant’s location. It adds that The company’s output will be 25 percent built with Egyptian components with rest of the parts coming from Japan.
Located between the emirates of Sharjah and Umm Al-Quwain, AFZA is serviced by a deep water port. Companies situated in the zone receive a series of incentives including 100 percent foreign ownership rights, 20 years of tax-free operations and personal income tax exemptions.