Last Update 0:25
Wednesday, 13 November 2019

Egypt's General Authority for Investment inks MoU with Japanese MUFG Bank to boost investments

Doaa A.Moneim , Wednesday 28 Aug 2019
Views: 1917
Views: 1917

Egypt's General Authority for Investment and Free Zones (GAFI) signed on Wednesday a memorandum of understanding (MoU) with the Japanese MUFG Bank to set an efficient outline to boost bilateral investments.

Egypt's Minister of Investment and International Cooperation Sahar Nasr said that the MoU would help in providing information about economic data as well as charts, available investment opportunities, and the laws related to investment in Egypt.

"According to the MoU, a joint work group is to be formed from the two countries to set an action plan to boost investment cooperation," Nasr added.

The minister also praised the level of Japanese investments in Egypt over the past years, which increased 73.3 percent in fiscal year 2017/18, reaching $162.1 million compared to $93 million in FY 2016/17.

Masato Miyachi, MUFG's senior managing corporate executive, said that there are significant opportunities to be tapped to increase Japanese investments in Egypt given its varied economy and its large base of labour, as well as its strategic location, which makes it close to key global markets.

"Egypt is a main pillar in the MENA region, which is why our regional office is located these, and this has helped in transferring significant experience about Egypt's investment nature and in the whole region," he added.

Search Keywords:
Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.