CAIRO – January 17, 2022: Finance Minister Mohamed Maait discussed with Oka Hirochi, Japan’s new Ambassador to Egypt, the possibility of issuing Egyptian bonds in Japan for the first time, according to a statement from the Ministry of Finance , Monday.
The Ministry of Finance said this is part of plans to issue various medium and long-term government bonds, which target new instruments such as sukuk, sustainability bonds and green bonds. ; this helps broaden the investor base and attract additional liquidity to the state stock market, in a way that helps lower the cost of debt.
During the meeting, the Minister of Finance stressed the concern of all state agencies to prepare all means to encourage local and foreign investment and to overcome the obstacles that investors may face, which contributes to localization of industry, maximizing production capacities and expanding the export base, in a way that helps stimulate economic growth and provide more employment opportunities.
He pointed out that there are promising opportunities for Japanese automakers to invest in Egypt, especially in the field of electric cars, in light of the state’s support for the transition to the use of means of transport. modern and environmentally friendly.
The Minister expressed the Egyptian side’s appreciation for Japan’s support for the implementation of the comprehensive health insurance system, as well as cooperation in the field of educational development through the experience of Japanese schools and universities, explaining that political leaders attach great importance to health and education. as two fundamental pillars for the achievement of human development.
“The situation in Egypt has completely changed from what I saw during my previous visit 40 years ago, as it is now witnessing a major modernization process that includes all aspects of life in Egypt,” said the new Japanese ambassador.
He stressed that Egypt is an important element for regional and continental stability and that Japan is willing to cooperate with Egypt, which will positively reflect efforts to support regional and continental development.
He added that there are new Japanese companies that have decided to inject investment into Egypt in the coming period; take advantage of the attractive and stimulating environment for business performance and investment, highlighting the satisfaction of the Japanese business community and investors in Egypt with the application of the ACI system for the pre-registration of shipments at the customs ports of the seaports.
The Ambassador praised the efficiency with which this system works, noting that he had received several positive messages in this regard from Japanese companies.
The meeting was attended by Hossam Hussein, Advisor to the Minister of External Relations, Mai Adel, Advisor to the Minister of Financial Markets, Nasreen Lashin, Head of Investor Support Unit, and Doaa Hamdi, Acting Head of the External Relations Unit in the Ministry of Finance.