Egypt's Prime Minister Moustafa Madbouly on Tuesday called on Japanese companies to expand their operations in Egypt, highlighting the country's strategic location linking Africa, Europe and West Asia and its position on major international shipping lanes. Speaking at the Egyptian-Japanese Business Council and Investment Forum in Tokyo, held on the sidelines of the TICAD 9 summit in Yokohama, Madbouly urged Japanese firms to establish an industrial zone in the Suez Canal Economic Zone (SCZONE) to benefit from its central position and Egypt's free trade agreements with key regional economic blocs. He invited Japanese investors to support Egypt's plans to localise industries such as automotive manufacturing, renewable energy, and water desalination, stressing that these sectors are backed by attractive investment incentives. Madbouly noted that Egypt had invested $550 billion in infrastructure development over the past decade, improving competitiveness and attracting foreign direct investment, while reforms in fiscal and monetary policies, including a flexible exchange rate, helped stabilise the economy. He added that the government is working to ease investment procedures by reducing customs clearance times to two days, simplifying company registration, and offering tax incentives to encourage expansion. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
