Japan increases investments in Egypt, trains cadres in tourism
Egypt-Japan, Economics, 2/11/2002

Senior Japanese officials expressed readiness to further cooperation with Egypt in the fields of joint ventures and training of cadres working in tourism.

Chairman of the General Authority for Investment and Free Zones (GAFI), Mohammad Al-Ghamrawi, who headed Egypt's delegation to the Conference on Investment in the Middle East and North Africa held in Tokyo, said his meetings with the Japanese officials reflect their keeness an strengthening bilateral cooperation through establishing joint productive ventures.

Ghamrawi added that the Chairman of the Japanese Foreign Trade Authority agreed on organizing visits for the Japanese companies operating in Egypt and establishing joint Egyptian-Japanese firms so as to benefit from the Egyptian-European Partnership Agreement that aims to set up export bases to European markets.

Ghamrawi noted that Japanese vice minister of economy, trade and industry welcomed the increase in Japanese investments in the promising fields of petrochemicals, oil, natural gas, communication and informatics, food industries and modern technology, stressing the importance of holding regular meetings for the organizations, unions and societies of businessmen and investors in both countries.

He added that such meetings would help direct a great sum of Japanese foreign investments to the Egyptian market.

During his meeting with vice chairman of the Japanese agency for international cooperation, Ghamrawi called for a study on enhancing competitiveness of promising investment sectors in Egypt to be conducted by the agency.

Among such promising sectors come the fields of communication, hardware, weaving and fabric industry, petrochemicals and food processing.

The agency's vice chairman pledged to endorse Ghamrawi call on the agency's next year agenda, provide technical assistance for investment projects, attract more Japanese investments, train investment cadres and increase the exports of the Egyptian free-zone projects to Japan.

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