Cairo - Mubasher: Egypt’s finance ministry is seeking to attract further Japanese and foreign investments by automating taxes and customs, along with adjusting their legislation and providing pro-investment environment, the finance minister said.
Investment incentives also include providing sovereign guarantees to the projects that will achieve sustainable growth, in addition to creating attractive environment for industrial business in a bid to spur major local industries, particularly auto industry, through exchanging expertise with the Japanese partners, Mohamed Maait said in a statement.
He stressed the government’s keenness to establish pro-investment climate by constructing new infrastructure, a network of roads and bridges, as well as national renewable energy and power projects.
The statements came on the sidelines of a meeting between the minister and Japanese Ambassador to Cairo Masaki Noke, with the presence of Japanese businesspeople and representatives of 30 firms operating in the Arab world's most populous country.
The Egyptian government has ironed out investment obstacles, provided attractive opportunities and incentivisd overseas investors to boost their business in Egypt, Maait added.
Noke lauded the North African nation’s economic reform efforts, underlying a non-stop cooperation to step up Japanese investments in Egypt.
