Counselor Mohamed Abdel-Wahab, CEO of the General Authority for Investment and Free Zones (GAFI CEO), received at GAFI headquarters Mr. Noke Masaki, the Ambassador of Japan to Egypt, within the framework of the first Egypt-Japan Business and Investment Promotion Committee, which was launched during the 7th Tokyo International Conference on African Development (TICAD 7). GAFI CEO co-chaired the inaugural session representing the Egyptian side and Amb. Masaki representing the Japanese side. The participants included Chief Representative of JICA Egypt Office, head of the Japanese Businessmen's Association (JBA), Executive Director of the Industrial Modernization Center (IMC), representatives of Japan Embassy in Cairo, Egypt-Japan Business Council, Japan External Trade Organization (JETRO), Japan International Cooperation Agency (JICA), Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), and a number of Egyptian companies related cooperating with the Japanese side.
Counselor Mohamed Abdel-Wahab assured GAFI’s keenness to achieve maximum benefit from the inaugurated joint committee. The committee is intended to achieve integration between the two investment promotion agencies in both countries, provide sustainable frameworks to enhance bilateral investment relations, encourage Japanese investment flows to Egypt, support Japanese companies operating in Egypt, and study the existing opportunities to attract more new investments from Japan.
During the meeting, a number of Japanese companies presented their success stories in Egypt, the expansions carried out during the previous years, the future plans, which including Toyota Tsusho, Nissan Motor, Sumitomo Electric Wiring Systems, Saraya, NEXI, JBIC. Some Egyptian companies also offered areas of cooperation with Japanese companies in regard to their operations in African and Arab countries, including El- Araby Group, Hassan Allam Holding, El-Sewedy Electric, and Orascom Construction.
Abdel Wahab praised the effective role of the Egyptian and Japanese entities and companies participating in the joint committee, praising their important roles in promoting and encouraging Japanese investments in Egypt. He also stressed on GAFI’s efforts to provide possible aspects of support to Japanese companies in Egypt, and efforts exerted to strengthen bilateral investment relations to encourage more Japanese investments in Egypt.
For his part, the Japanese ambassador, Noke Masaki, affirmed his aspiration that the Committee would play a prominent role in supporting Japanese investments in Egypt, and highlighting current and potential investment opportunities, to encourage more new Japanese investors to invest in Egypt during the coming period.
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