Share

Japan firms eye $18bn projects in Egypt

The announcement comes when Egypt is struggling to revive its economy after the 2011 uprising and subsequent unrest have driven away foreign investors and tourists

Share
Egypt, Investment, Power consumption, Power generation, News

Companies from Japan have expressed interest in Egyptian projects worth about $17.7bn in the electricity and other sectors, Japanese Prime Minister Shinzo Abe has said, following a meeting with Egyptian President Abdel Fattah al-Sisi in Tokyo.

Japanese and Egyptian companies are scheduled to sign more than 10 memorandums of agreement on Wednesday, according to Reuters, quoting an official at Japan’s foreign ministry.

The announcement comes when Egypt is struggling to revive its economy after the 2011 uprising and subsequent unrest have driven away foreign investors and tourists.

Abe's government drives exports of social infrastructure such as railway systems and power generation systems to the Middle East and other regions as part of its growth strategy.

The leaders agreed to hold dialogue between their Defence and Foreign Ministry officials periodically to strengthen security ties.

"We've reached an agreement to bolster our cooperation to eradicate terrorism and extremism, which have transcended particular regions or national borders and have come to pose a threat to peace and security of the international community," Sisi said at the joint news conference with Abe.

Newsletter

Most Popular