Question: You write a lot about the importance of the fight against foreign and multinational companies; but perhaps you are not aware that many of these companies announced their withdrawal from Egypt and closure of their headquarters. These decisions were not because of being directly targeted by the rebels, but because of the deteriorating economic situation. Companies such as Mercedes, General Motors, Toyota and Suzuki ; as well as the closure of Yahoo’s office in Cairo; as well as the companies Adidas and Puma have all pulled out of Egypt. What is your comment?
Answer: The accuracy of this information is questionable. As far as I know, General Motors, Toyota, Suzuki, and others closed temporarily in 2013, but reopened within a week.
General Motors plans to invest more than $46 million over the next 3-4 years in Egypt, so they are very much operational.
Toyota, opened a new spare parts facility for regional export, and just last month announced its expansion plans in Egypt; they have doubled their market share over the past 5 years. Toyota is very much operational.
As for Mercedes, their decision was explained. Because of the neoliberal policies being imposed, the lowering of tariffs on European luxury cars, possibly even eliminating tariffs altogether within the next 5 years, Mercedes can profit more by not assembling cars in Egypt.
The closure of Mercedes facilities only highlights the economic sabotage being imposed on Egypt precisely for the profitable benefit of companies like Mercedes.
The number of companies with expansion plans in Egypt is tremendous, and it is obvious why. It is the reason for the Coup, and the reason for Egypt’s enslavement.