Egyptian-Japanese discussions to enhance economic reform efforts and support investments in Egypt

With comprehensive sustainability, Egypt continues to implement its program for economic reform efforts. In an effort to strengthen its position and make it a destination that attracts foreign investments, it has achieved this with a broad package of legislative and structural reforms that contribute to improving the business environment and help increase the confidence of international investors.

In this context, Dr. Badr Abdel Aty, Minister of Foreign Affairs, International Cooperation and Egyptians Abroad, discussed with Japanese Prime Minister Sanae Takaichi ways to expand the strategic partnership between the two countries, and discussed efforts to push economic and investment cooperation to new levels in parallel with the global movement towards achievingSustainable Development Goals (SDGs).

Egypt’s economic reform program

In this high-level meeting, the Foreign Minister conveyed the greetings of President Abdel Fattah El-Sisi to the Japanese Prime Minister, and delivered to her a message addressing the prospects for developing the strategic partnership between the two countries in the next stage. This was before he confirmed that Egyptian-Japanese relations have witnessed remarkable development since the announcement of the strategic partnership between the two sides in 2023, noting that the economic reform program in Egypt has helped in recent years to improve the investment climate and create a more attractive environment for foreign companies.

How did economic reform begin?

The Minister of Foreign Affairs, International Cooperation and Egyptians Abroad also reviewed the efforts made by the Egyptian state in the course of the national economy, which was by developing the legislative and institutional structure that supports investment, and by building a stable business environment, then developing the infrastructure, and improving the services provided to investors. So that these sustainable steps are a factor in increasing growth rates and attracting foreign capital.

There the minister confirmed that Egypt provides strategic opportunities for Japanese companies wishing to diversify production sites and supply chains, especially in light of the economic and trade turmoil the world is witnessing as a result of geopolitical tensions, including tensions in the Middle East region.

In more detail, the Minister of Foreign Affairs and International Cooperation and Egyptians abroad pointed out the importance of establishing a Japanese industrial zone within the Suez Canal Economic Zone, allowing Japanese companies to benefit from the investment and trade incentives provided by the zone, as well as benefiting from the network of free trade agreements linking Egypt to the Arab, African and European markets.

Education and health first

In the context of enhancing economic cooperation, the Minister stressed the importance of continuing the development partnership between the two countries in the fields of education, health, transportation, energy and sustainable development, noting that the success of economic reform programs requires monitoring their impact in all productive and service sectors, and developing evaluation and review mechanisms that help institutions adapt to economic changes and achieve financial and operational sustainability.

Then Dr. Badr Abdel Aty praised the joint projects between the two countries, most notably the Egyptian-Japanese University of Science and Technology, and the technical education and vocational training programs that contribute to developing human capabilities and transferring expertise.

Egyptian-Japanese investment in Africa

On the other hand, the two sides – Egyptian and Japanese – discussed opportunities for tripartite cooperation between them within the African context. Dr. Badr Abdel Aty reviewed the role played by Egypt in terms of being a gateway to African markets, pointing to the ongoing preparations regarding hosting the first edition of the “Alamein-Africa” Business Forum, which aims to strengthen trade and investment partnerships between various active parties in the African continent. Therefore, the Minister extended an invitation to the Japanese side to actively participate in the forum and benefit from the investment opportunities available in African markets.

Egypt and Japan discuss regional situations

After the meeting touched on a number of regional and international issues, the Foreign Minister reviewed Egypt’s regional efforts to reduce escalation and support stability in the Middle East region, in addition to developments related to the Gaza Strip, Sudan, and the Horn of Africa region. Therefore, the Japanese Prime Minister, for her part, praised the Egyptian role in supporting regional security and stability.

For the above, this Egyptian-Japanese meeting cannot be read in isolation from the ongoing transformations in the global economy. As countries and major companies tend to reshape investment, production, and supply chain maps; In search of more stable centers and ability to access markets. The messages conveyed by the meeting also reveal the transition of Egyptian-Japanese relations from the stage of traditional development cooperation to the stage of strategic partnership based on mutual economic interests, technology transfer, industry localization, and human capacity building.

This is what promptedThe Earth Guards Foundationto read these Egyptian-Japanese discussions seriously within the framework of the Sustainable Development Goals (SDGs), which look at societies in a comprehensive manner, starting from food and health to peace and justice. Until it achieves its goal of a bright future that preserves the right for everyone to a socially, economically and environmentally sustainable life.