The Executive Director of the General Authority for Economic and Free Zones (GAFI), Mohamed Abdel Wahab, met with Oka Hiroshi, the Japanese Ambassador to Cairo, this week to discuss ways to improve investment cooperation between the two nations.
They also discussed how to attract more Japanese investments to the Egyptian market and how to keep track of Japanese companies operating in Egypt.
Abdel Wahab emphasized the importance of working with the Japanese Embassy in Cairo to support current Japanese investments while also attracting new ones to Egypt, and expressed GAFI’s eagerness to continue working with the Japanese side to provide sustainable frameworks to enhance bilateral investment relations.
He stated that it was agreed with the Japanese counterpart to hold a promotional tour for the GAFI in a number of Japanese cities to present investment opportunities of interest to Japanese companies and encourage them to direct new investments into Egypt.
The two sides also agreed that preparations for the second session of the Egypt-Japan Business and Investment Promotion Committee will begin before the end of the year.
Abdel Wahab also highlighted the Egyptian state’s efforts to provide an attractive environment for investment through a set of investment incentives and guarantees, namely, the activation of the special incentives system to stimulate investments in activities and sectors that serve the economic development plan in many fields, including industry, communications and information technology, and agriculture.
On his part, Ambassador Oka confirmed the strength of economic relations between the two countries and his keenness to encourage more Japanese investors to direct new investments in Egypt, praising in this regard the role of the GAFI during its presidency of the Egypt-Japan Business and Investment Promotion Committee.
