Egypt’s tycoon Abul-Enein calls on Japanese industrial zone in Suez Canal

Egyptian-Japanese Business Council’s deputy chairman Mohamed Abul-Enein has called on Japanese investors to establish an industrial zone in the Suez Canal, Egypt Today reported on Friday.

Abul-Enein’s remarks came during the opening of the Egyptian-Japanese Business Forum held on the sidelines of the Seventh Tokyo International Conference on African Development (TICAD) in Yokohama.

“Establishing projects and increasing Japanese investments in Egypt in light of the new legislations and opportunities will bring about a big leap in relations between the two countries,” Abul-Enein said.

The prominent businessman suggested the establishment of the Bank of Japan to serve investors in the industrial zones.

The opening of the forum was attended by Egyptian Minister of Investment and International Cooperation Sahar Nasr, Minister of Industry and Trade Amr Nassar, Ambassador of Japan to Cairo Masaki Noke, and chairman of the Arab Contractors Company Mohsen Salah, as well as a number of Egyptian and Japanese businessmen.

Abul-Enein said Japan can reach Africa, Europe and the Middle East through Egypt’s unique geographical location by establishing a Japanese industrial zone in the economic zone of the Suez Canal.

“Egypt and Africa are looking to emulate the successful experience of Japan in 12 countries and the great successes it achieved in Cambodia, India and Malaysia through the presence of Japanese industrial zones in Africa,” Abul-Enein said.

He also stressed that the cooperation between Egypt and Japan is currently witnessing an exceptional phase in the history of relations between the two countries, and that there is still great potential to achieve huge leaps in cooperation between the two countries.