Minister of Industry Khaled Hashem and the Japan’s Ambassador in Cairo, Fumio Iwai, and an accompanying delegation, discussed on Tuesday the existing Japanese investments in Egypt, plans for expansion, and opportunities available in the market.
The meeting was attended by Ahmed Maghawry, Assistant Minister for International Co-operation.
During the meeting, Minister Hashem highlighted the well-established Egypt–Japan ties, based on mutual trust and a strategic partnership.
These ties were elevated to the level of a strategic partnership in 2023, which mirrored the shared vision of the leadership in both on deepening co-operation in key areas including industry, technology, investment and sustainable development.
Hashem referred to a plenty of promising investment opportunities that are likely to help enhance industrial co-operation between the two nations, mainly in the automotive sector, which is a priority for Egypt.
The Japanese companies, especially Nissan, could benefit from incentives offered under Egypt’s national programme for developing the automotive industry, which aims to produce 100,000 vehicles by 2030, alongside expanding feeder industries, the minister said.
Co-operation could also extend to pharmaceuticals, including medical devices and equipment, as well as electronics manufacturing, given Japan’s global leadership in these fields, he added.
He stressed the ministry’s keenness on benefiting from Japan’s expertise in technology localisation and deepening local industry to support Egypt’s industrial development goals.
In addition, the minister pointed to Egypt’s strategic geographic location, extensive trade agreements with regional and global markets, skilled workforce, and investment-friendly legislation as key advantages for Japanese companies seeking to expand and access markets in Africa and the Middle East.
For his part, Ambassador Iwai affirmed Japan’s commitment to strengthening economic co-operation with Egypt and taking bilateral relations to broader horizons. He noted that Japanese investments in Egypt are concentrated in automotive manufacturing and components, home appliances, renewable energy projects, water treatment equipment, and green industries.
The envoy referred to a number of Japanese companies that are keen on probing investment opportunities in Egypt, and building on the success stories of firms already operating in the country.
the Japanese embassy stands ready to enhance communication between the business communities of both countries to boost co-operation in sectors of mutual interest he said.
