SCZONE receives the Japanese Ambassador and a delegation from the Japanese House of Representatives

The General Authority of the Suez Canal Economic Zone (SCZONE) received the Japanese Ambassador to Cairo, Mr. Oka Hiroshi, and a high-level delegation from the Land, Infrastructure, Transport, and Tourism Standing Committee of the Japanese House of Representatives, headed by Mr. Kihara Minoru, Committee Chair, Mr. Nakani Kazuyuki, and Mr. Yatagawa Hajime, Committee Directors, and several members of the Japanese House of Representatives. In the presence of; Major General Walid Youssef, SCZONE Vice Chairman for the Southern Zone, Dr. Ibrahim Mustafa, SCZONE Vice Chairman for Investment and Promotion Affairs, and several SCZONE high board members. This meeting comes within the framework of strengthening cooperation in the fields of transport, tourism, and infrastructure development and getting acquainted closely with the efforts of the economic zone to benefit the most from its strategic location alongside the Suez Canal banks.

Both SCZONE deputies conducted a presentation outlining the elements of SCZONE that make it a global competitor, such as six affiliated ports overlooking the Red Sea and the Mediterranean Sea and four industrial zones that include many industrial sectors targeted for localization within SCZONE strategy. The presentation also explained SCZONE’s efforts to develop infrastructure according to the latest international standards and the investments SCZONE has spent in this regard, which exceeds $ 3 billion. The presentation touched on the investment incentives, whether financial or non-financial, SCZONE provides to its investors, the most important of which is the application of a 0% for the value-added tax for goods and services imported into SCZONE as production inputs with the aim of re-exporting as a final product. They also mentioned that SCZONE recently provided the bunkering service on 3 of its affiliated ports which are; East Port Said port, West Port Said port and Sokhna port stating that this kind of service will enhance SCZONE competitiveness globally.

The Japanese delegation stressed the depth of Egyptian-Japanese relations and the remarkable development they are witnessing nowadays, especially in light of the SCZONE delegation’s successful promotional tour to the Japanese capital, Tokyo, last April. They also assured the need to enhance bilateral cooperation in terms of attracting Japanese investments in various industrial fields such as; automotive and green fuel, especially in light of the current global challenges that create a growing demand for clean energy sources to cope with the serious effects of climate change.