Mohamed Abdel Wahab, the Executive Director of the General Authority for Investment and Free Zones (GAFI), met with Ambassador of Japan to Cairo Oka Hiroshi this week to discuss enhancing investment cooperation between the two countries.
They also exchanged visions on the mechanism for attracting more Japanese investments to the Egyptian market as well as followed up on the position of Japanese companies operating in Egypt.
Abdel Wahab stressed the importance of cooperation with the Japanese Embassy in Cairo in a way that serves current Japanese investments as well as attracting more to Egypt, expressing GAFI’s keenness to continue cooperation with the Japanese side to provide sustainable frameworks to enhance bilateral investment relations.
He noted that it was agreed with the Japanese side 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.
Additionally, the two sides agreed that preparations for holding the second session of the Egypt-Japan Business and Investment Promotion Committee will be underway before the middle 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.