Egypt and Japan Discuss Boosting EV Manufacturing and Investment Cooperation

Egypt's Minister of Foreign Affairs and International Cooperation, Dr. Badr Abdelatty, held talks with Nobumitsu Hayashi, Governor of the Japan Bank for International Cooperation (JBIC), during his current visit to Japan. The discussions focused on strengthening economic and investment ties between the two countries.

The meeting placed a strong emphasis on supporting local manufacturing in Egypt, particularly in the electric vehicle (EV) industry, alongside renewable energy and water desalination sectors. Abdelatty highlighted the importance of JBIC's role in backing priority industrial projects and deepening the economic partnership between Cairo and Tokyo.

The minister praised JBIC's support for the first and second issuances of Samurai bonds in 2023 and 2024, expressing Egypt's hope for continued backing of a third issuance. This, he noted, would help attract more Japanese investors to the Egyptian market.

Abdelatty also outlined recent developments in Egypt's economy, emphasizing that the country serves as a strategic gateway for Japanese companies looking to expand into Arab, African, and European markets. He further pointed to opportunities in research, development, and information technology sectors.