Egypt's minister of investment and int'l cooperation Sahar Nasr listens to a speech by Japanese Ambassador to Egypt Masaki Noke in Cairo (Photo Courtesy of MIIC)
Egypt’s Minister of Investment Sahar Nasr has called on Japanese enterprises to inject more investment into the domestic market.
She added, while attending a conference held by the Japanese Embassy in Cairo, that Japanese investment in the Egyptian market hit $880m, via 106 companies, increasing by 74.3 percent in FY 2017-18 to reach $ 162.1m compared to $93m in FY2016-17.
"The Tokyo International Conference on African Development 2019 (TICAD 7), which will be held in Tokyo, 28 August, is an important platform gathering several international partnership to support Africa and its growth aspirations. Moreover, it represents an important partnership between Egypt and Japan with Egypt the current leader of the African Union (AU), beside other forms of cooperation, including participating in establishing the Grand Egyptian Museum, the Egyptian-Japanese initiative for education and establishing a number of Japanese schools in Egypt,” Nasr added.
Japanese Ambassador to Egypt Masaki Noke asserted that Egypt is one of the most important development partners for Japan in Africa, clarifying that Egypt's vital economic reforms have begun to bear fruits, with better economic signs paving the way to attract more investment to the Egyptian market.
“Egypt has significant potentials and capabilities to receive Japanese investments, which have been increased due to improvements in the investment climate in Egypt and Japanese businesspersons paying attention to investment opportunities,” Noke added.