Q: What can you tell us about the recent surge in Japanese investments in Egypt?
A: Japanese investments in Egypt rose 140 percent year on year, reaching $60 million in 2024, up from $25 million in 2023. However, further enhancements to the investment environment are crucial to attracting greater inflows.
Q: What new projects are in the pipeline, and how many jobs are they expected to generate?
A: New investments include a factory for automotive wiring and an existing factory expansion, which I cannot identify at this moment. Together, these two projects are expected to generate 12,000 job opportunities.
Q: Can you provide some context about your comments made during the inauguration of Daikin Egypt’s headquarters?
A: Yes, I made these comments on the sidelines of the inauguration of Daikin Egypt’s headquarters in New Cairo. Daikin, which set up shop in 2016, is a leading global player in heat pump, air conditioning, and air filtration technology.
Q: How do you view the current investment levels in Egypt compared to Japan’s economy?
A: Despite the growth in Japanese investments, I noted that investment levels in Egypt don’t correspond to the size of the world’s fourth largest economy. It is essential to enhance the investment environment to attract more Japanese businesses.
Q: What efforts are being made by the Egyptian government to improve the business climate?
A: The Egyptian government is making clear efforts to improve the business climate. I emphasize the importance of continuing economic reforms.
Q: How is Japan supporting Egypt’s economic reforms?
A: Japan is closely monitoring Egypt’s economic landscape and supports ongoing structural reforms aimed at enhancing the investment climate.
Q: How have Egypt-Japan relations evolved in recent years?
A: Egypt-Japan relations have advanced significantly, particularly after Japanese Prime Minister Fumio Kishida’s visit to Egypt in 2023, where both countries agreed to elevate their ties to a strategic partnership.
Q: Can you discuss the educational cooperation between Egypt and Japan?
A: Cooperation between the two nations in the education sector dates back to President Abdel Fattah El-Sisi’s visit to Tokyo in 2016. This led to projects like Japanese-Egyptian Schools (EJS) and the Egypt-Japan University of Science and Technology (E-JUST). The upcoming E-Kousin project will further support engineering and technical education to meet labour market demands.
Q: What developments have occurred in the Suez Canal Economic Zone?
A: The Suez Canal Economic Zone (SCZONE) has witnessed developments, including the upcoming launch of the Ro-Ro terminal for car transport.
Q: How is Japan facilitating trade and cooperation in Egypt?
A: The Japan External Trade Organization (JETRO) has organized trade missions to Egypt, focusing on tourism and industry, with Japanese tourism companies exploring cooperation opportunities. Additionally, the Japan International Cooperation Agency (JICA) continues to support Egypt’s development projects through concessional loans and grants, with the latest loan agreement signed during International Cooperation Minister Rania Al-Mashat’s visit to Japan.
