Japan Eyes Investments in Egypt’s Suez Canal Economic Zone

CAIRO - 23 July 2023: The Japanese Ambassador to Egypt, Oka Hiroshi, affirmed that more companies and institutions in Japan are keen on exploring the available investment opportunities in the Suez Canal Economic Zone (SCZONE).

A Japanese delegation was received by Walid Youssef, Deputy Chairman of the Economic Zone for the Southern Region, and Ibrahim Mustafa, Deputy Chairman of the Authority for Investment and Promotion.

The Japanese Ambassador hailed the deepening of Egyptian-Japanese relations and the remarkable developments witnessed recently, particularly following the successful promotional tour of the SCZONE to the Japanese capital, Tokyo, in April of last year.

Furthermore, he noted that the tour opened doors for Japan's financial and business community to seize investment opportunities available within the Economic Zone, especially in vital sectors such as automotive and supporting industries.

He also highlighted the growing global demand for clean energy sources to address the increasingly dangerous impacts of climate change, making green fuel and ship bunkering an attractive sector for investment.

The visit was part of Japan's desire to enhance cooperation in the fields of transportation, tourism, and infrastructure development.

 It also aimed to closely examine the efforts of the Economic Zone in maximizing the benefits of its strategic location on both sides of the navigational route of the Suez Canal, known as a lifeline of international trade.