SCZONE chairman reviews investment attraction plan

CAIRO – Egyptian Chairman of the Suez Canal Economic Zone (SCZONE) Walid Gamal el-Din reviewed a plan to improve investment opportunities in the economic zone and increase infrastructure projects till reaching the stage of industry localisation.

This came during a plenary seminar held at the Egyptian embassy and its trade office in Tokyo, in cooperation with the United Nation Industrial Development Organisation (UNIDO)’s office in Japan.

Nearly 100 of Japan’s leading business corporations, investment funds and asset management companies, as well as local media, attended the seminar.

The Egyptian Foreign Ministry said on its Facebook page on Monday that the SCZONE chairman, during the seminar, shed light on all the advantages and incentives offered to turn the SCZONE into a global investment hub.

In the same context, Egyptian Ambassador to Japan Mohamed Abu Bakr gave a word during the seminar, in which he referred to the Egyptian economy’s successes over the past few years that enabled it to withstand the repercussions caused by the outbreak of the Covid-19 pandemic and the ongoing crisis in Ukraine, in addition to achieving remarkable growth despite the grave global challenges.

He also reviewed the Egyptian State’s plan to carry out many structural reforms to attract more investors to the Egyptian market.

He cited the effective measures taken in this regard, including the issuance of the “State Ownership Policy Document” and the “Golden License”.

He also talked about the capabilities of many sectors in Egypt, including those of transportation, infrastructure and communication, in addition to achieving financial stability, which helps improve the investment environment in the country.

During the seminar, several representatives of Japanese companies investing in Egypt referred to the large-scale development it has achieved in all fields, noting that many Japanese companies carried out projects in Egypt in several sectors inside the Suez Canal Economic Zone due to the enormous advantages it provides, a matter that makes it the focus of attention for investors from different countries of the world.

They called on the Japanese side to benefit from these advantages to expand the Japanese businesses in the Egyptian market and other markets in the Middle East, Africa and Europe.