CAIRO – 22 October 2023: Minister of Planning and Economic Development, Hala El Said met with a delegation of Japanese investors led by Kanazawa Yukio, the owner of Titan Capital and Mizuha Company. The purpose of the meeting was to explore opportunities for collaborative efforts and discuss potential investment prospects in Egypt.
During the meeting, El Said emphasized the diverse nature of the Egyptian economy, highlighting sectors such as agriculture, industry, communications and information technology, and logistics as particularly attractive for investment. The Minister expressed the view that these sectors hold great promise for investment opportunities in Egypt.
In a previous statement made in July, the Japanese Ambassador to Egypt, Oka Hiroshi, affirmed the growing interest of Japanese companies and institutions in exploring investment possibilities within the Suez Canal Economic Zone (SCZONE).
According to data from the Central Agency for Public Mobilization and Statistics (CAPMAS), Cairo and Japan pumped investments valued at $73.70 million in Egypt during fiscal year (FY) 2021/2022. This figure represents a significant increase of 98.70 percent compared to the previous year's investment of $37.10 million.
The Minister of Planning also emphasized the government's commitment to implementing legislative policies and reforms aimed at enhancing the investment climate in Egypt. As part of these efforts, Egypt has signed free trade agreements with various countries and regional blocs, including the COMESA Agreement, the African Continental Free Trade Agreement, and the EU Association Agreement.
Furthermore, the Egyptian government introduced the Golden License initiative, which grants approval from the Egyptian Cabinet for the establishment, operation, and management of projects within a maximum period of 20 working days. This initiative aims to facilitate and expedite the acquisition of permits and the execution of projects, particularly in the industrial sector.
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