Egyptian Prime Minister Mostafa Madbouly praised the cooperation between Egypt and the Japan Bank for International Cooperation (JBIC), especially regarding the financing of projects that are a priority for the Egyptian state, notably projects in the field of renewable energy.
Madbouly made the remarks on Thursday during his meeting with JBIC Governor Hayashi Nobumitsu, in the presence of Rania Mashat, Minister of Planning, Economic Development, and International Cooperation, and Ambassador Mohamed Abu Bakr, Egypt’s Ambassador to Japan.
The meeting took place on the sidelines of Madbouly’s participation on behalf of President Abdel Fattah El Sisi in the 9th Tokyo International Conference on African Development (TICAD 9) summit in Yokohama, Japan.
Madbouly expressed appreciation for cooperation in issuing “Samurai” bonds, voicing hope to continue collaboration in this regard.
He highlighted Egypt’s success in achieving positive indicators for the Egyptian economy as a result of implementing the economic reform program adopted by the government.
He pointed out the current important opportunity to establish a Japanese industrial zone in Egypt’s Suez Canal Economic Zone, noting that Japan is one of Egypt’s major partner countries.
He also referred to Egypt’s membership in various economic blocs and partnership agreements that help manufactured goods produced in Egypt reach many markets.
Additionally, many incentives and advantages are granted to investors in Egypt, he noted.
The premier explained several advantages of investing in the Suez Canal Economic Zone, including the ability of investing companies to export directly to Europe and neighboring markets.
He emphasized the government’s keenness to increase the volume of Egyptian exports in the coming period, noting that the incentives offered to investors in this regard are attractive for more Japanese companies to work in Egypt.
During the meeting, Minister Mashat reviewed the government’s efforts for cooperation with JBIC and the available opportunities to deepen cooperation between the two sides.
She pointed to the success of Egypt’s economic program in achieving positive indicators recently and the government’s efforts to support the private sector’s role in many economic activities.
For his part, JBIC Governor Hayashi Nobumitsu highlighted the importance of increasing the presence of Japanese companies in the Egyptian market and expanding their activities in light of the improvement and stability achieved by the Egyptian economy in recent times.
He noted that he has conveyed this positive outlook to many Japanese companies.
He pointed out his awareness of the special advantages of investment in the Suez Canal Economic Zone and his constant efforts to convey this image to Japanese companies.
He clarified that there are many sectors where cooperation is possible, especially in renewable energy.
He added that there is an opportunity for cooperation between Japanese companies and firms from other countries, such as Gulf countries, for joint investment in Egypt.
