Discussing investment opportunities in the Suez Canal Economic Zone (SCZone) as well as providing technical support in various sectors featured high on the agenda of official talks between Egypt and Japan on Monday.
Chairman of SCZone Yehia Zaki met with Japanese Ambassador in Cairo Masaki Noke and a delegation from the Japanese JICA. The two sides discussed means of boosting joint co-operation.
Zaki said that the current investment situation in Egypt augurs well for both sides as Egypt enjoys a good investment climate.
He said that the political leadership encourages serious investments into the country.
During the meeting, Zaki briefed the JICA delegation about the economic zone over the past five years.
He reviewed the targeted goals of SCZone’s strategy for 2020/2025. Zaki also offered a set of incentives that SCZone enjoys, including the special rules for import and export and customs incentives that contribute to facilitating the business climate.
Noke said that his country is looking forward to further strengthening co-operation with Egypt in all fields.
The Japanese envoy said Egypt enjoys a strategic location for international maritime transport connecting Asia with Africa and the Mediterranean.
“Japan intends to enhance its partnership with the Suez Canal,” he added.
Noke also visited the industrial zone in Sokhna area at SCZone.
“The Japanese government is very interested in pushing its investments in Egypt, especially in SCZone projects” Noke said.
Japan agreed to establish a factory complex on an area of 20,000 square metres and with direct Japanese investments amounting to $10 million.
The factory complex will be devoted to the production of Japanese sterilisation supplies and cosmetics in Egypt, according to Japanese specifications.