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Egypt eyes more Japanese investments

Government plans to attract ventures in areas of information technology, energy, health and security

Japanese investments in Egypt currently account for only one per cent of the total value of foreign investments in the country.

The Asian country’s investments are estimated at $257 million through 60 companies operating in the Egyptian markets, according to recent Egyptian figures.

Egyptian government sources seek to expand and increase these investments and look forward to an anticipated visit by the Egyptian president to Japan in November.

The Al Bayan daily says Egyptian officials hold periodic meetings with the Japanese ambassador in Cairo to attract Japanese investments in areas of information technology, energy, health and security.

Some sources believe that the second half of the 2015-2016 fiscal year will see a surge in the value and number of Japanese ventures in the Arab country as several Japanese firms are currently exploring potential opportunities in the various sectors of the Egyptian economy.

Recently, a team from the Mitsubishi Group looked into possible areas of investments at Egypt’s ports and prospects for establishing a container terminal in Egypt similar to those the group operates in Columbia, Spain and the Philippines.

($1 = AED3.67, at the time of publishing)