Egyptian Minister of Planning and Economic Development Ahmed Rostom and Minister of Foreign Affairs Badr Abdelatty met with Yuko Mitsui, First Vice President of the Japan International Cooperation Agency (JICA), in Bangkok to discuss enhancing economic cooperation and attracting Japanese investments to the Egyptian market.
The talks, held on the sidelines of the International Monetary Fund and World Bank Group meetings, focused on expanding development partnerships and creating a more attractive business environment, the Ministry of Planning and Economic Development said in a statement.
During the meeting, Rostom outlined a proposed Infrastructure Financing Guarantee Facility (IFGF), which aims to provide necessary guarantees for national priority projects to boost private sector participation. The mechanism targets vital sectors including seawater desalination, wastewater recycling, green transport, distributed renewable energy (DRE), and the development of industrial zone infrastructure. These initiatives are designed to reduce carbon emissions and enhance the productive and competitive capacities of investors, the minister said.
Rostom also reviewed the Egyptian government’s ongoing structural and economic reforms, highlighting recent packages of tax and customs incentives and facilitations offered to investors. He stressed the importance of broadening cooperation between JICA and the Egyptian private sector to open new areas for joint investment.
Expressing the state’s appreciation for JICA’s role in supporting development projects and partnerships, Rostom emphasised the importance of leveraging Japanese technological capabilities and expertise to support comprehensive economic development and execute projects that achieve sustainable growth.
Egypt is keen to attract further Japanese investments, Rostom added, noting that the local market offers promising opportunities to diversify production centres and enhance the efficiency of supply chains.