Cairo – Mubasher: Egypt’s investment minister Sahar Nasr discussed the proposal of the Egyptian-Japanese Business Council for establishing a Japanese investment zone to include the industries of cars and feeders at the Suez Canal Corridor Area.
Nasr invited Japanese investors to increase their investments in Egypt, stressing that the Egyptian government is working on removing any obstacles facing investors, according to a statement on Monday.
This came during the meeting of Nasr with the members of the Egyptian-Japanese Council, in the presence of the Japanese Ambassador to Egypt Takehiro Kagawa, aiming to increase Tokyo's investment in Egypt.
Kagawa commented that the new investment law will bolster boosting Japanese firms’ investments in Egypt
"Egypt is the largest market in the Middle East and we are aiming to increase our investments to support the Egyptian economy," continued Kagawa.
The minister welcomed the Japanese Ambassador's invitation to the members of the Egyptian-Japanese Council to visit the Japanese capital Tokyo to promote investment in Egypt.
On 17 August, the Egyptian Cabinet approved the executive regulations of the new investment law to be referred to the Egyptian Council of State for a final legal review before it becomes effective.
Nasr had previously revealed that foreign direct investment (FDI) in Egypt surged 29% year-on-year to EGP $1.35 billion in the fourth quarter of fiscal year 2016/2017 from $1.05 billion in the prior-year period.
