Egypt's Prime Minister Moustafa Madbouly discussed on Thursday expanding economic cooperation with the Japan Bank for International Cooperation (JBIC) on the sidelines of the 9th Tokyo International Conference on African Development (TICAD 9) in Yokohama. During a meeting with Governor Nobumitsu Hayashi, Madbouly praised JBIC's role in financing priority projects, particularly in renewable energy. He welcomed the bank's support in issuing Samurai bonds. He said Egypt looks forward to strengthening cooperation with Japan, citing the country's positive economic indicators achieved through its reform programme. The prime minister underscored the opportunity to establish a Japanese industrial zone in the Suez Canal Economic Zone (SCZone), highlighting Egypt's network of trade agreements and incentives for investors. He noted that companies based in the zone enjoy direct export access to Europe and regional markets. He reaffirmed the government's commitment to boosting exports to attract more Japanese investment. Minister of Planning and Economic Development Rania Al-Mashat also highlighted the government's efforts to deepen cooperation with JBIC and reinforce the private sector's role in Egypt's economy. For his part, Hayashi said he supports stronger Japanese participation in Egypt's market, reflecting the country's economic stability, and has already conveyed this outlook to Japanese companies. He pointed to renewable energy and other promising sectors for partnership, adding that joint investments involving Japanese and Gulf companies in Egypt also represent a viable opportunity. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
