Egypt and Japan discuss increasing investment

CAIRO – 29 March 2017: Egyptian and Japanese officials met Wednesday to discuss increased economic and investment cooperation, according to a press release.

Egypt’s Minister of Investment and International Cooperation, Dr. Sahar Nasr, met with Japan's ambassador to Cairo, Takihiro Kagawa.

Nasr expressed Egypt's appreciation for efforts made by the Japanese government in financing national projects, including construction of the Great Egyptian Museum (Phase I and II), development of Borg El-Arab Airport in Alexandria and three electricity distribution companies in Cairo, Alexandria and the Delta, in addition to establishing the new power station in Hurghada, on the Red Sea.

Kagawa said Japanese companies are keen to invest in the Egyptian market, especially under the new investment law currently being discussed by Parliament which aims to attract more regional and international investments to Egypt.

Nasr also expressed gratitude for the Egyptian-Japanese Education Initiative, which provides 2,500 scholarships in Japan over five years to train Egyptian employees in the Ministries of Education and Health.

Japan also invested $41 million to build units in Abu Al-Rish Hospital and construct laboratories for the Japanese-Egyptian University.

Nasr discussed ways to bring in Japanese expertise and technology, build the capacity of investment staff to improve the level of investor service and benefit from Japanese expertise in small and medium industries.