Yokohama: Egyptian Prime Minister Mostafa Madbouly praised the cooperation between Egypt and the Japan Bank for International Cooperation (JBIC), particularly in financing projects prioritized by the Egyptian state, with a focus on renewable energy.

According to State Information Service Egypt, Madbouly made these remarks during a meeting with JBIC Governor Hayashi Nobumitsu. This meeting also included Rania Mashat, Minister of Planning, Economic Development, and International Cooperation, and Ambassador Mohamed Abu Bakr, Egypt's Ambassador to Japan. The meeting was held on the sidelines of Madbouly's participation on behalf of President Abdel Fattah El Sisi at the 9th Tokyo International Conference on African Development (TICAD 9) summit in Yokohama, Japan.

Madbouly expressed appreciation for the collaboration in issuing "Samurai" bonds and voiced hope for continued partnership. He highlighted Egypt's success in achieving positive economic indicators due to the government's economic reform program. Madbouly also spoke of the opportunity to establish a Japanese industrial zone in Egypt's Suez Canal Economic Zone, noting Japan as a major partner country.

He emphasized Egypt's membership in various economic blocs and partnerships, which facilitate market access for products manufactured in Egypt. He also mentioned the attractive incentives and advantages offered to investors, aiming to increase the volume of Egyptian exports and attract more Japanese companies to invest in Egypt.

During the meeting, Minister Mashat discussed the government's efforts to cooperate with JBIC and the potential for deeper collaboration. She noted the recent achievements of Egypt's economic program and the government's support for the private sector.

JBIC Governor Hayashi Nobumitsu underscored the importance of expanding Japanese company activities in Egypt given the recent economic improvements. He emphasized the special advantages of investing in the Suez Canal Economic Zone and conveyed this positive outlook to Japanese companies. Nobumitsu also highlighted the potential for cooperation in renewable energy and joint investments with companies from other countries, including Gulf countries.