Egypt proposes Japanese industrial zone in SCZONE to attract investment
Egypt has invited Japan to establish an industrial zone within the Suez Canal Economic Zone (SCZONE), seeking to attract more Japanese investment and expand its manufacturing base.
Foreign Minister Badr Abdel-Atty met Japanese Prime Minister Sanae Takaichi on Wednesday and delivered a written message from President Abdel Fattah El-Sisi outlining ways to deepen economic cooperation and strengthen the strategic partnership between the two countries.
The proposed industrial zone would enable Japanese companies to benefit from investment incentives and customs advantages available within the SCZONE, one of Egypt’s flagship projects for attracting foreign manufacturers and boosting exports.
During the talks, Abdel-Atty said Egypt could serve as a production and export base for Japanese companies seeking to diversify supply chains amid geopolitical uncertainty and disruptions to global trade, according to a ministry statement.
He also called for increased Japanese investment, citing Egypt’s location and network of free trade agreements that provide access to markets across Africa, the Middle East, and Europe.
The discussions covered cooperation in industrial development, technology, innovation, scientific research, and digital transformation, as well as ongoing joint projects including the Egypt-Japan University of Science and Technology (E-JUST), technical education programmes, and vocational training initiatives.
The two sides also discussed opportunities for trilateral cooperation in Africa. Abdel-Atty invited Japan to participate in the inaugural Alamein Africa Forum, due to be held in Egypt on 25-27 June.
Regional developments were also discussed, with Abdel-Atty briefing the Japanese side on Egypt’s diplomatic efforts related to Gaza, Sudan, and the Horn of Africa, the ministry said.
Egypt and Japan elevated their relationship to a strategic partnership in 2023 and have sought to expand cooperation in investment, industry, and development projects.
Attribution: Amwal Al Ghad English