Egypt has become more attractive for foreign direct investment (FDI) and has a huge potential to attract more investments, affirmed Finance Minister Mohamed Maait.

Egypt has attractive incentives, including its advanced infrastructure and its ability to accommodate investment expansions in production activities, in a way that contributes to enhancing the private sector’s participation in the economic activity, he added during his meeting Thursday with Japanese Ambassador to Egypt Oka Hiroshi and President of Japanese Businessmen Association Saito Hidenori.

The minister, meanwhile, stressed that the Egyptian economy has shown strong performance, resilience and ability to absorb shocks.

Maait further said that Egypt is keen on promoting joint cooperation with Japan, hailing the Japanese role in supporting development projects in Egypt, topped by the comprehensive healthcare system and education.

For his part, the Japanese ambassador lauded Egypt’s remarkable progress in terms of mechanization and improvement of the business climate, especially the Advanced Cargo Information (ACI) system, which contributed to reducing the time for customs release.

He also appreciated the efforts exerted by the Finance Ministry in facilitating investment expansions and holding constant contacts with the business community in order to remove any obstacles facing them.

During the meeting, the two sides agreed to hold a meeting between Maait and members of the Japanese Businessmen Association to discuss ways of promoting Japanese investments within the upcoming phase.

Source: State Information Service Egypt