Egypt has highlighted its growing cooperation with the Japan Bank for International Cooperation (JBIC), particularly in financing priority projects, including renewable energy initiatives, as part of the country’s ongoing economic reform program.
Prime Minister Dr. Mostafa Madbouly praised the partnership during a meeting with JBIC Governor Nobumitsu Hayashi on Thursday, attended by Minister of Planning, Economic Development and International Cooperation Dr. Rania Al-Mashat, and Egypt’s Ambassador to Japan, Mohamed Abu Bakr.
The discussions took place on the sidelines of the ninth Tokyo International Conference on African Development (TICAD 9) in Yokohama.
Dr. Madbouly welcomed JBIC’s support in issuing “samurai” bonds and underlined the potential for establishing a Japanese industrial zone in the Suez Canal Economic Zone.
“Japan is one of Egypt’s major partner countries,” he said, noting that Egypt’s membership in multiple economic blocs and trade agreements facilitates access for locally manufactured goods to global markets.
The Prime Minister emphasised that investing in the Suez Canal Economic Zone offers strategic advantages, including direct access to European and regional markets, alongside attractive incentives for investors.
He reaffirmed the government’s commitment to increasing Egyptian exports, highlighting the role of such partnerships in supporting economic growth.
Dr. Al-Mashat highlighted Egypt’s success in achieving positive economic indicators and stressed the government’s commitment to strengthening private sector participation.
She noted that collaboration with JBIC provides opportunities to deepen investment ties between the two nations.
Governor Hayashi expressed support for expanding Japanese business activity in Egypt, noting improvements in the country’s economic stability.
“We are aware of the special advantages of investing in the Suez Canal Economic Zone,” he said, emphasising potential cooperation in renewable energy and other strategic sectors.
Hayashi also pointed to opportunities for joint ventures involving Japanese companies and partners from the Gulf region, reflecting a growing trend of multilateral investment in Egypt.
The meeting underlined both countries’ ambition to solidify economic ties and attract high-value investment to Egypt’s strategic projects.
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