Japan eyes investing in blue hydrogen, ammonia in Egypt

CAIRO – 4 April 2022: Japanese Ambassador to Cairo Oka Hiroshi said Monday that his country eyes investing in the fields of blue hydrogen and ammonia through Toyota Tsushu Corporation, which already operates in the energy sector in Egypt.

The diplomat further noted that such partnership had been discussed with the Ministry of Petroleum and Mineral Resources, according to a press statement by the Egyptian Ministry of International Cooperation.

The ambassador's statements came during a meeting with Minister Rania al-Mashat, who wanted to discuss joint developmental projects, on the occasion of the envoy's submission of his letter of credence to President Abdel Fatah al-Sisi last week.

The minister underlined that such collaboration between both countries is currently worth $2.8 billion, and includes 14 projects in the sectors of healthcare, electricity, transportation, navigation, education, higher education, and irrigation.

Mashat added that Japan has supported Egypt through the COVID-19 pandemic enabling it to acquire vaccine doses worth $250 million from COVAX. That is in addition to providing grants to procure medical equipment necessary to combat the spread of the virus.

In that context, Minister Mashat highlighted that in the coming period Egypt will benefit from Japan's leading experience in the field of universal health insurance along with that of France and the support of the World Bank Group.  

Similarly, Egypt and Japan are collaborating on the second phase of the fourth metro line. However, the minister expressed aspiration that Japanese private investments would increase in Egypt, particularly the sectors of priority.

Mashat equally presented Egypt's preparations to host COP 27 IN Sharm El Sheikh next November as well as efforts deployed with international partners to support green transformation. A number of such projects are funded by the Japan International Cooperation Agency (JICA), such as Asyut's Deirut Barrages and Hurghada's solar power station.

On his side, the Japanese ambassador presented his country's preparations for the eighth Tokyo International Conference of African Development (TICAD) to be hosted by Tunisia on August 26-28.

Ambassador Oka Hiroshi also shed light on the bilateral cooperation, and trilateral cooperation with UNICEF to boost anti-COVID-19 vaccination in Egypt.

The minister and the ambassador agreed on expanding the annual economic talks between both states on the strategic level and not just on the technical one, which is a practice pursued by the Ministry of International Cooperation with international partners such as the World Bank, the European Bank for Reconstruction and Development (EBRD), and the African Development Bank (AfDB).