Egyptian-Japanese Business Council, UNDP strengthen cooperation for development

CAIRO – 22 October 2024: The Egyptian-Japanese Business Council has signed a Memorandum of Understanding (MoU) with the United Nations Development Program (UNDP) to boost collaboration across multiple areas.

This partnership focuses on organizing joint events, supporting business initiatives by the UNDP and the Egyptian government, promoting investments, enhancing capacity-building, fostering research collaboration, and working towards sustainable development goals within Egypt’s regulatory framework.

Minister of Investment and Foreign Trade, Hassan El-Khatib, praised Egypt’s recent efforts to attract foreign investments, highlighting the country’s focus on Japanese investments and the vital role of UNDP programs in sustainable development and capacity building.

He emphasized that this agreement will combine Japan’s expertise with UNDP’s initiatives to further expand their activities in Egypt, supported by the Ministry of Investment’s efforts to encourage business councils to contribute to the national economy.

Japanese Ambassador to Cairo, Hiroshi Oka, underscored the significance of such agreements in driving development, noting Japan’s commitment to Egypt through organizations like JICA and JETRO.

UNDP officials expressed their appreciation for the agreement, viewing it as a significant step towards deeper collaboration with Egyptian private sector companies, in partnership with the public sector.