(MENAFN- Daily News Egypt) Egypt's Minister of Public Enterprises Sector, Mohamed El-Shimy, affirmed that the ministry's portfolio of companies is highly diversified, covering a wide range of sectors including cotton and textiles, chemicals and fertilisers, metallurgy and mining, automotive, pharmaceuticals, real estate development, contracting, tourism, and hospitality.

El-Shimy said there are many promising investment opportunities across the ministry's subsidiaries, with all necessary facilities being extended to investors-particularly in areas of technology transfer and industry localisation. He emphasised that the Egyptian market serves as both a large domestic market and a vital gateway to regional and international markets.

The minister highlighted ongoing efforts to revive El Nasr Automotive Manufacturing Company, one of Egypt's industrial pillars, noting that the company is already producing buses that meet global standards, as well as minibuses. He revealed that final preparations are now underway for the production of various passenger car models, adding that the ministry is committed to expanding the range of vehicles manufactured locally. This, he stressed, reflects the vast opportunities within Egypt's automotive sector and its feeder industries.

El-Shimy's remarks came during a meeting with Japan's Ambassador to Egypt, IWAI Fumio, where the two sides discussed ways to enhance economic and investment cooperation. The minister reiterated Egypt's keenness to strengthen ties with Japan across multiple fields-particularly in trade, industry, and investment-so as to support Egypt's development trajectory and open new opportunities for Japanese businesses in the local market.

For his part, Ambassador Fumio expressed his country's pride in the notable progress of Egyptian-Japanese relations in recent years. He underlined Japan's view of Egypt as a strategic partner in the region and commended the major improvements in infrastructure and ongoing national projects, especially the New Administrative Capital. He also voiced Japan's readiness to further deepen economic and investment cooperation.

The ambassador referred to the recent visit of Prime Minister Mostafa Madbouly to Japan, where he participated in the Tokyo International Conference on African Development (TICAD) and the Egyptian-Japanese Business Council Forum. The visit, he said, resulted in several cooperation agreements that underscore the strength of bilateral economic ties. He further noted the rise in Japanese investments in Egypt and the growing interest of Japanese companies in expanding their presence, drawn by the country's favourable investment climate and strategic market position.

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