H.E. Minister of Planning, Economic Development, and International Cooperation Continues High-Level Meetings in Tokyo, Engaging with Toyota Tsusho, NEXI, and Nomura Investment Advisory

H.E. Minister of Planning, Economic Development, and International Cooperation Continues High-Level Meetings in Tokyo, Engaging with Toyota Tsusho, NEXI, and Nomura Investment Advisory

H.E. Al-Mashat promotes government efforts to improve the investment climate and enhance the business environment.

 "We value Toyota Tsusho’s efforts in implementing key renewable energy projects," says H.E. Al-Mashat.

 Renewable energy and green hydrogen present promising opportunities for Japanese investments in Egypt.

 Low-cost international financing boosts both local and foreign private-sector investments.

 Localizing industry and attracting foreign direct investment remain top government priorities.

 The government is implementing mechanisms to empower the private sector and expand its economic contributions.

 H.E. Al-Mashat discusses Egypt's economic growth and employment opportunities with Nomura Investment Advisory.

 

As part of her visit to Japan to celebrate the 70th anniversary of development cooperation between Egypt and Japan, H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, held a series of meetings with Mr. Hiromi Ohara, Head of the Energy and Infrastructure Division for Africa at Toyota Tsusho Corporation; Mr. Atsu Kuroda, Chairman of the Japanese Export and Investment Insurance (NEXI); officials from Nomura Investment Advisory; and Mr. Yamada Kenji, Secretary-General of the Egypt-Japan Parliamentary Friendship Association. The meetings were attended by H.E. Ambassador Mohamed Abou Bakr, Egypt’s Ambassador to Japan.

 

Toyota Tsusho Corporation

 

H.E. Al-Mashat met with Mr. Hiromi Ohara and other Toyota Tsusho officials to discuss the company’s plans for future expansion in Egypt. With over 90 years of operations, Toyota Tsusho is pivotal in renewable energy, power, and automotive projects.

 

During the meeting, H.E. Al-Mashat highlighted government efforts to enhance the investment climate, drive inclusive and sustainable growth, and ensure macroeconomic stability despite global and regional challenges. She affirmed the government’s commitment to supporting Japanese companies and foreign investments to expand their presence and foster private sector participation across various economic activities.

 

The minister commended Toyota Tsusho’s significant contributions to renewable energy projects, including establishing a 250 MW wind farm in the Gulf of Suez and a 500 MW wind farm in Ras Ghareb on the Red Sea. She also highlighted the company’s involvement in operating the recently launched RoRo shipping line, which facilitates direct trade between Egypt and Italy as part of Egypt’s strategy to become a regional hub for logistics and transit trade.

 

H.E. Al-Mashat underscored Egypt’s ambition to become a regional hub for renewable energy and energy exports, citing significant regulatory reforms and incentives to enable private sector engagement in renewable energy and green hydrogen projects.

 

Japanese Export and Investment Insurance (NEXI)

 

In her meeting with Mr. Atsu Kuroda, H.E. Al-Mashat discussed the strategic importance of NEXI’s guarantee products, which empower Japanese companies to expand into new markets. The discussions focused on enhancing cooperation to attract foreign direct investments in Egypt, with the goal of building a competitive economy.

 

H.E. Al-Mashat acknowledged NEXI’s pivotal role in co-financing Egypt’s 500 MW Gulf of El-Zeit wind farm alongside international institutions. She emphasized the need to expand NEXI’s guarantees to support Japanese private sector investments in Egypt and Africa.

 

The minister outlined the ministry’s efforts to empower the private sector by improving governance in public investment spending, structural reforms, and launching private sector dialogues to align priorities. She also highlighted the Hub for Advisory, Finance & Investment for Enterprises platform, which provides financial and technical support to private businesses, as well as access to low-cost international financing to enhance both local and foreign investments.

 

Nomura Investment Advisory

 

H.E. Al-Mashat also held discussions with representatives from Nomura Investment Advisory to explore new avenues for collaboration.

 

During the meeting, she praised Nomura’s leadership in innovation, sustainability, and digital transformation, expressing gratitude to Japan for its enduring partnership with Egypt over the past seven decades. This collaboration has not only strengthened bilateral ties but also advanced mutual achievements in various fields.

 

H.E. Al-Mashat emphasized the historic elevation of Egypt-Japan relations to the level of "strategic partnership," reflecting the depth of their collaboration. She also highlighted cultural initiatives, including the Egypt-Japan University of Science and Technology (E-JUST) and the Japanese schools in Egypt, which adopt comprehensive educational methodologies.

 

The minister reviewed Egypt’s robust economic reform agenda, emphasizing efforts to stabilize the economy, diversify growth, and attract foreign investment. She highlighted Egypt’s leadership in renewable energy, noting the updated nationally determined contributions (NDCs) announced in June 2023, which aim for renewable energy to constitute 42% of the energy mix by 2030 instead of 2035.

 

H.E. Al-Mashat expressed her aspiration to leverage Nomura’s expertise in IT solutions, strategic research, and sustainability to align with Egypt’s Vision 2030 development goals. She discussed potential collaboration in digital transformation, artificial intelligence, blockchain, and advanced data analytics to enhance operational and strategic outcomes for priority projects.