Japanese PM praises GEM project, voices Tokyo’s more support for Cairo

CAIRO – 30 APRIL 2023: The Grand Egyptian Museum (GEM) will be the largest museum in the world, said Japanese Prime Minister Fumio Kishida said Sunday in a joint press conference with his Egyptian counterpart Moustafa Mabouli at the GEM headquarters.

Kishida also showed the display of the contents and holdings of the Grand Egyptian Museum, besides watching the stages of the sun boat restoration process, expressing his admiration for this display.

He said that the bilateral cooperation between the two countries in establishing the Grand Egyptian Museum dates back to 2006, noting that the Center of Antiquities Restoration adjacent to the museum cooperates with Japanese experts and envoys from the Japanese Cooperation Organization for International Cooperation (JICA).

Madbouly accompanied Kishida on a tour of the Grand Egyptian Museum, where they inspected the museum's model, the glass panorama, and the external obelisk.  The Egyptian Prime Minister presented Mr. Fumio Kishida with a souvenir of the sun boat.

On the sidelines of their participation in the activities of the Egyptian-Japanese Business Forum, Mostafa Madbouly, held a meeting with Kishida.

The Japanese Prime Minister affirmed that Egypt possesses a huge infrastructure and promising economic zones, adding that the Egyptian market increasingly attracted Japanese companies in recent years, which contributed to the increase of Japanese investments in Egypt.

Kishida expressed his country's aspiration to contribute more to the development efforts in Egypt, especially in the areas of the green economy.

In his speech, Madbouly expressed his appreciation for the support provided by the Japanese government to strengthen Egyptian-Japanese relations, noting that the cooperation portfolio between Egypt and Japan has witnessed steady growth in recent years.

The total portfolio of Japanese grants and loans amounted to about $3 billion to implement more than 18 projects, consistent with the goals of sustainable development and the government plan 2030, on top of which are the "first phase of the fourth metro line" project, linking between the "Grand Egyptian Museum" and the "University".

The Japanese-funded projects in Egypt include the "Egyptian-Japanese Schools", as well as the "establishment of outpatient clinics for the University Children's Hospital - Abu El-Rish", and the "modernization of Borg El Arab Airport" project.

However, bilateral trade remains below our two countries' capabilities. Over the last five years, the average trade exchange between Egypt and Japan has been $1.3 billion, the premier said.

The government is trying to finalize a series of structural changes aimed at improving the business climate and ensuring fair opportunity for everybody. Early this year, the government launched the State Ownership Policy Document that will allow the private sector to fully participate in the economy, raising its share from 30% to 65% over the following three years, he added.

The state grants the golden license as a comprehensive license for all permits required to establish and operate projects, the premier said.

Up to 13 golden licenses have already been granted to companies, including a Japanese Firm, while 45 applications are currently being reviewed to be approved soon, he added.

The MENA contributed to this story.