Egypt, Japan seek to expand industrial cooperation, investment

Egypt’s Minister of Industry, Khaled Hashem, met with Japan’s Ambassador to Egypt, Iwai Fumio, to review current Japanese investments, explore potential expansions, and identify new opportunities across the Egyptian market. The meeting, attended by Assistant Minister for International Cooperation Ahmed Maghawry, underscored the growing strength of bilateral ties, which were elevated to a strategic partnership in 2023. Both sides emphasized their shared vision to advance cooperation in key sectors, including industry, technology, and sustainable development. During the talks, Hashem highlighted the automotive, pharmaceutical, and electronics industries as top priorities for future collaboration. He outlined Egypt’s ambition to scale up vehicle production to 100,000 units annually by 2030, alongside developing local supply chains and feeder industries. He noted that Japanese firms—particularly Nissan—are well-positioned to benefit from Egypt’s national automotive development program, as well as its strategic location and extensive network of trade agreements that facilitate access to African and Middle Eastern markets. The minister also stressed Egypt’s interest in leveraging Japan’s advanced expertise in technology localization to strengthen domestic manufacturing capabilities, pointing to the country’s skilled workforce and improving investment climate as key advantages. For his part, Ambassador Iwai reaffirmed Japan’s commitment to deepening economic engagement with Egypt, noting that existing investments are concentrated in automotive manufacturing and components, home appliances, renewable energy, water treatment equipment, and green industries. He added that several Japanese companies are actively exploring opportunities in Egypt, with the embassy committed to strengthening business-to-business ties and supporting further collaboration in areas of mutual interest.The post Egypt, Japan seek to expand industrial cooperation, investment first appeared on Dailynewsegypt.