- February 14, 2023
- Posted by: Ahmed Abed
- Category: 2023, EN
The Chairman of Suez Canal Economic Zone (SCZONE) had a meeting with representatives of the Japanese “Mitsui co. & Ltd. which operates in various industrial sectors, most notably the infrastructure and metals sectors. The meeting included three strategic pillars, The first one was the formation of an international consortium led by Mitsui Company, with the aim of building, managing, and operating seawater desalination plants. The second one included a study of manufacturing supply chains for the feeding industrial sectors of green fuel in Egypt, for instance: The manufacture of equipment for seawater desalination plants. The third pillar was about the possibility of manufacturing green fuel in Egypt as one of the most important regional green fuel hubs in the Middle East and Africa.
In this context, Mr. Walied Gamal El-Dien invited the company’s representatives to visit SCZONE soon to see the going works on ground including the infrastructure and facilities implemented by the zone with international standards to serve investors in its industrial zones, which the Egyptian country is interested in providing, as well as the road network and facilities to pave the way for businesses and attract various investments.
The joint meetings with Japanese companies were followed by a panel discussion organized by the Economic and Commercial Office of the Egyptian Embassy in Tokyo, the United Nations Industrial Development office- Tokyo Promotion Office (UNIDO-ITPO), Japan Cooperation Center for the Middle East (JCCME), and Japan Institute for Overseas Investment (JOI) as a sponsor. The panel discussion was moderated by Ms. Kayoko Seki from the Japan Cooperation Center. It included the available investment opportunities for the Japanese companies within SCZONE.
The panel discussion was attended by: Mr. Ferda Gelegen, the officer in charge of the UNIDO Office in Tokyo, Mr. Mitsuo Tamura, Managing Director of JCCME, Mr. Mohamed Abu Bakr Saleh, Egyptian Ambassador to Japan, Mr. Ko Takigawa, General Manager of Saraya Co. Ltd., Mr. Tokuji Koyama, General Manager of Toyota Tsusho Corporation, Mr. Shigenori Okada, Regional Manager of Torishima Pumps Corporation, and Mr. Hidenori Saito, President of the Japan Business Association in Egypt.
The panel discussion dealt with a review of the investment opportunities for Japanese companies within SCZONE, especially in light of the investment incentives offered to the partners, developers, and operators.
“SCZONE always appreciates the cooperation with Japanese companies such as Saraya Company, which specializes in the manufacture of cosmetics from natural plants, and Toyota Tsusho which is a part of the consortium that has the concession to operate the Ro-Ro terminal in East Port Said. We also have new prospects for cooperation with the Japanese side in our various targeted sectors to expand the success.” Mr. Waleid Gamal El Dien, Chairman of SCZONE declared
For his part, Mr. Mohamed Abu
Bakr, Ambassador of Egypt to Japan declared: “The Egyptian economy made milestones during the past few years. It also succeeded in managing the repercussions of the COVID pandemic and the Russian-Ukrainian war, thanks to the economic reform recently implemented by Egypt state.”
More than 100 representatives of major companies, business institutions, investment funds, and asset management witnessed participation in the panel discussion.
Following the speakers’ speeches representatives of Japanese companies raised some inquiries about investment opportunities in SCZONE and the facilities provided, as well as sectors in which investments can be injected to achieve the mutual benefit of both parties. In turn, SCZONE Chairman addressed these questions during the panel discussion assuring the importance of cooperation with Japanese investors which contributes to strengthening economic and trade relations between the two countries.
