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Japanese companies to invest in Egyptian projects worth $18 bln

Ahram Online , Tuesday 1 Mar 2016
Japan
A handout picture released by the Egyptian Presidency on 29 Feb., 2016, Egypt's President Abdel Fattah El-Sisi (R) attends with Japan's Prime Minister Shinzo Abe (L) agreements signings at Abe's official residence in Tokyo, Japan (Photo: Egyptian Presidency)
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Japanese companies are set to take part in Egyptian projects worth about 2 trillion yen ($17.7 billion) in the electricity and other sectors, Reuters reported, quoting Prime Minister Shinzo Abe as saying on Monday after meeting Egyptian President Abdel-Fattah El-Sisi in Tokyo.

Abe did not elaborate on the projects, but an official at Japan's foreign ministry said Japanese and Egyptian companies are scheduled to sign more than 10 memorandums of agreement on Wednesday.

On Monday, Egyptian Minister of International Cooperation Sahar Nasr signed three concessional loan agreements with Japan International Cooperation Agency worth more than $450 million to finance projects in the energy and transport sectors.

Abe and El-Sisi also announced that they agreed to hold a dialogue between their defence and foreign ministry officials periodically to strengthen security ties.

El-Sisi's visit to Japan comes as part of his third tour to Asia.

Earlier Tuesday he met with Japan's Crown Prince Naruhito in Tokyo.

The Egyptian president also met with a number of Japanese CEOs, including the CEOs of Mitsubishi Heavy Industries and Toyota motors to discuss investments opportunities in Egypt. 

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Al
02-03-2016 06:20am
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More fit for the job
Minister Naser looks more fit for the job of an economist leader of Egypt than the army general. The picture says it all; usually the head of state signes the internatinal agreements and the support stands behind! Actually, it is much better for Egypt having an economist running the show than an army guy struggling to make sense of it all!!
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Al
04-03-2016 09:18pm
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1+
Objectivity, Mark
Not sure what country you're a citizen of or what government you have there; but if you have someone as incompetent as Sisi, wasting 10's of billions of dollars on useless jets, subs, and aircraft carriers while his people are starving you won't spare a breath to call him out on his utter incompetence. I don't hate Sisi, I feel sorry for the 40% of my people under poverty, thousands of youth in jail, many journalists in jail, tourists being tortured and killed, while his army government is fat dumb and happy!
Mark
02-03-2016 08:33pm
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Objectivitiy
But Prime Minister Shinzo Abe is standing behind the JICA president as well, does that mean the Prime Minister is a "support" figure? I can see your seething hatred for Mr.Sisi, but please try to be objective in your criticism. It just sounds like you wanna complain and undermine anything that is being done, whether it's beneficial for the country or not.
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