The Cabinet has reportedly agreed in principle to giving incentives to car manufacturers using at least 45% local content, which was proposed by the Finance and Trade Ministers last week. According to unnamed government sources, the incentives could be announced by the end of the month and would likely follow a sliding scale based on the percentage of local content, starting at 10%. Meanwhile, Prime Minister Mostafa Madbouly is expected to sign a number of cooperation agreements with Mercedes and BMW and component maker Bosch during an upcoming trip to Germany, while talks with Korean, US, Chinese and four Japanese companies are also underway.