Egypt, Japan's JOIN Discuss Investment Cooperation In Infrastructure

2024-11-06 11:03:50

(MENAFN- Daily News Egypt) Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), met with Hideki Okada, Head of the Business Development Unit at Japan Overseas Infrastructure Cooperation (JOIN) to discuss ways to encourage Japanese companies to pump new investments into the Egyptian market.

JOIN is an investment fund specialized in supporting Japanese infrastructure projects abroad, especially in the transportation and urban development sectors.

Heiba stressed that the Egyptian government is interested in partnering with Japanese institutions thanks to their interest in the developmental role of investments and their transfer of modern technology to Egyptian markets.

He reviewed the investment systems stipulated in the Investment Law and the investment incentives approved by the Egyptian government in various infrastructure sectors, including transportation, roads, ports, water treatment, logistics, technological infrastructure, renewable energy and recycling. He also stressed the importance of enabling the local and foreign private sector to contribute to sustainable development and increase economic growth rates. The government aims to increase the share of private sector investments to 65% of total investments.

During the meeting, Hideki Okada reviewed the efforts of JOIN to accelerate the operations of Japanese companies to develop infrastructure in 46 projects around the world over the past 10 years. The foundation works as an umbrella for Japanese companies wishing to invest outside Japan in coordination with the governments of the countries receiving the investment.

Okada called on GAFI to participate in Expo 2025, scheduled to be held in the Japanese city of Osaka from 13 April to 13 October 2025, under the slogan“Innovating the Future to Improve the Lives of Communities”, with the aim of strengthening the investment partnership between the two countries, especially in the field of infrastructure development.

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