The automotive directive has been approved by the cabinet and is expected to be passed on to the House of Representatives when the parliament reconvenes from recess in October, according to the head of the Egyptian Automotive Feeder Industry Association Ali Tawfik. The bill will protect businesses threatened by what they claim is unfair competition from Turkish, Moroccan and European Union imports by providing tax and other incentives to assemblers who meet a domestic component ratio of up to 80% within five years, he added. Phase one of the directive is to develop capacity to manufacture 100k vehicles annually, aiming to reach 1mn vehicles eventually, and create a total of 6mn direct and indirect jobs. (Al Borsa)