Event report: "Japan-Egypt Business and Investment Seminar"

On 20 October 2021, UNIDO ITPO Tokyo organized the online seminar “Japan-Egypt Business and Investment Seminar”, jointly with the Economic and Commercial Bureau at the Embassy of the Arab Republic of Egypt in Tokyo and the Japan Cooperation Center for the Middle East (JCCME).

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This seminar aimed to find clues to promote business and investment from Japan in Egypt. Opening remarks were made by four people, namely; Mr. Yuko Yasunaga, Head, UNIDO ITPO Tokyo, Mr. Takashi Manabe, Representative Executive Director, JCCME, H.E. Mr. Ayman Kamel, Ambassador Extraordinary and Plenipotentiary of the Arab Republic of Egypt to Japan, and H.E. Mr. Masaki Noke, Extraordinary and Plenipotentiary Ambassador of Japan to Egypt, at the beginning of this seminar. They introduced Egypt’s abundant resources and attractive market that continue growing and expressed their expectations for further strengthening the business partnership between Japan and Egypt in the future.

Mr. Osamu Yamanaka, Deputy Director-General for International Trade Policy, Trade Policy Bureau, METI Japan made the welcome remarks, mentioning that Japanese ODA which has contributed to the development of power plants and infrastructure, and Japanese companies who have been expanding their businesses in Egypt. Besides, he also highlighted Egypt’s great location, which is considered as a gateway for Japan to the Middle East, Africa, and European countries, and said “Egypt is an important partner for Japan to strengthen cooperative partnership with the whole African nations”. Following Mr. Yamanaka, Mr. Amr Noureldin, Advisor to the CEO of General Authority for Investment (GAFI), introduced efforts to improve the domestic business environment to attract Foreign Direct Investment (FDI). He emphasized Japan is a strategic partner for Egypt to achieve sustainable development. Additionally, he introduced that the government wants to attract especially automobile and related industries from Japan.

The two-part panel discussion on “Investment climate and opportunities” and “Sustainable and Green Energy,” welcomed panelists from both Japan and Egypt to introduce the latest business trends in Egypt and discuss how to promote business and investment from Japan.

In the first half of the panel discussion moderated by Mr. Ferda Gelegen, UNIDO ITPO Tokyo, discussions were held on the business environment and the possibility of promoting investment from Japan. First, Mr. Ahmed Zohair, Director of Foreign Investment Promotion Bureau, Investment Promotion Department, GAFI presented an overview of the Egyptian business environment and explained the attractiveness of Egypt as a business partner and why Japanese private sectors should invest in the country. Secondly, Mr. Walid Gamal Eldin, Chief Executive Officer, Suez Economic Zone, explained the outline and strengths of the economic zone and highlighted that Japanese companies, especially the automobile and the related industry are highly welcomed in the zone.

Eng. Mr. Yasser Mohammed Abdelbary, Program Manager of Electronics Industry, Information Technology Industry Development Agency (ITIDA), Min. of Communication and Technology, explained several financial incentives including tax deductions for FDI from the government, together with lower labor cost, Egypt would be an attractive investment destination in the IT and ICT sector. Eng. Mr. Mostafa Shahin, Director General for Projects, Egyptian National Railways Authority gave an overview of the domestic railway development and introduced the ongoing projects as well as some specific fields that will be developed in the future. Mr. Toyokazu Fukuyama, Managing Director, JETRO Cairo, said that the Egyptian economy, which has been steadily developed even during the COVID-19 pandemic, is a result of the government-led economic policy. He emphasized the importance of partnerships with foreign governments and companies for the continual growth of its economy.

In the second half of the panel discussion moderated by Mr. Takashi Oya, Deputy Managing Director, JCCME, Egypt’s policy specializing in sustainable and green energy was introduced and the roadmap to achieve carbon neutrality was discussed. Dr. Ahmed Mohamed Mahina, First Undersecretary for Research, Planning and Authorities’ Follow-up, Ministry of Electricity and Renewable Energy, explained the government set a target that 42.7% of domestic electricity to be from renewable energy by 2035. Mr. Samir Mahmoud El Kareish, Vice Chairman, the Egyptian Natural Gas Holding Company “EGAS” and Green Energy Processes Supervisor, mentioned hydrogen is attracting particular attention among other renewable energies and explained Egypt’s hydrogen production history and its production capacity. He also pointed out the importance of collaboration on technology development and Egypt has the potential to become a hydrogen pioneer in the region.

Mr. Susumu Yuzurio, Director, Energy and Mining Group, Infrastructure Management Department, JICA, introduced JICA’s historical contribution to the development of the energy sector in Egypt and indicated a strong relationship between Japan and Egypt for further sustainable energy development. Mr. Tokuji Koyama, General Manager, Energy Infrastructure Project Department, Toyota Tsusho Corporation, introduced the company’s wind energy project in the Gulf of Suez. He highlighted the success of the renewable energy project would be based on 1) support from the Egyptian government, 2) support from the Japanese government, and 3) Participation of private companies. Finally, Dr. Prof. Katsuhiko Hirose, CEO of HyWealth Co., and WPI Visiting Professor, International Institute for Carbon Neutral Energy Research, Kyushu University, explained the status of hydrogen energy development in Japan and around the world. For both Japan and Egypt, the use of hydrogen energy could be a way to achieve carbon neutrality. It also has the potential for new business development.

In the Q&A session, in addition to the questions from the moderators, there were also questions from the audience. To answer the question, “What is the major investment attraction during the COVID-19 pandemic?”, Mr. Ahmed Zohair from GAFI pointed the infrastructure industry as one example, but he also mentioned that many inquiries and negotiations had been made even during the pandemic, suggesting that there are many foreign companies that are particularly active and have an interest in developing business in special industrial zones. For the sustainable energy question, Dr. Ahmed Mohamed Mahina answered Egypt wants to collaborate with other countries and foreign companies, especially in the areas of energy storage, large-scale batteries, and hydrogen.

In the closing remarks, Mr. Mohammed Ibrahim, Counsellor (Head of Economic and Commercial Section), Embassy of Egypt in Tokyo, expressed his gratitude for holding this seminar, emphasizing that Egypt is ready to welcome Japanese companies and investment. He said that strengthening the business partnership between Japan and Egypt will lead to the creation of new business opportunities.

Outline

Date:	Wednesday, October 20, 2021
Time:	16:30-19:00 (JST)/ 9:30-12:00 (EET)
Organizers:	Embassy of the Arab Republic of Egypt, Economic and Commercial Section in Tokyo, Japan Cooperation Center for the Middle East (JCCME), UNIDO ITPO Tokyo
Language:	Japanese/English (Simultaneous interpretation)
Registration fee:	Free of charge
MC:	Ms. Yuki Onozaki, UNIDO ITPO Tokyo

Programme

16:30/9:30 Opening Remarks 　
　　　　　　　　Mr. Yuko Yasunaga, Head, UNIDO ITPO Tokyo
　　　　　　　　Mr. Takashi Manabe, Representative Executive Director, JCCME
　　　　　　　　H.E. Mr. Ayman Kamel,
　　　　　　　　　Ambassador Extraordinary and Plenipotentiary of the Arab Republic of Egypt to Japan
　　　　　　　　H.E. Mr. Masaki Noke,
Extraordinary and Plenipotentiary Ambassador of Japan to Egypt

16:45/9:45 Welcome Remarks　
Mr. Osamu Yamanaka,
　　　　　　　　　Deputy Director-General for International Trade Policy, Trade Policy Bureau, METI Japan
　　　　　　　　Mr. Amr Noureldin,
Advisor to the CEO of General Authority for Investment (GAFI)

16:55/9:55　　Panel Session I – Investment climate and opportunities
　　　　　　　　 Moderator: Mr. Ferda Gelegen, Deputy Head, UNIDO ITPO Tokyo
Panelists:
　　　　　　　　 Mr. Ahmed Zohair, Director of Foreign Investment Promotion,
　　　　　　　　　Investment Promotion Department, General Authority for Investment (GAFI)
　　　　　　　　 Mr. Walid Gamal Eldin, Chief Executive Officer, Suez Economic Zone
　　　　　　　　 Eng. Mr. Yasser Mohammed Abdelbary, Program Manager of Electronics Industry,
　　　　　　　　　Information Technology Industry Development Agency (ITIDA), Min. of Communication and Technology
　　　　　　　　 Eng. Mr. Mostafa Shahin, Director General for Projects, Egyptian National Railways Authority
　　　　　　　　 Mr. Toyokazu Fukuyama, Managing Director, JETRO Cairo

17:55/10:55 Panel Session II – Sustainable and Green Energy 　　　
　　　　　　　　Moderator: Mr. Takashi Oya, Deputy Managing Director, JCCME
Panelists:
　　　　　　　　 Dr. Ahmed Mohamed Mahina, First Undersecretary for Research,
　　　　　　　　　Planning and Authorities’ Follow-up, Ministry of Electricity and Renewable Energy
　　　　　　　　 Dr. Samir Mahmoud El Kareish, Vice Chairman,
　　　　　　　　　the Egyptian Natural Gas Holding Company “EGAS” and Green Energy Processes Supervisor
　　　　　　　　 Mr. YUZURIO Susumu, Director, Energy and Mining Group,
　　　　　　　　　Infrastructure Management Department, JICA
Mr. Tokuji Koyama, General Manager, Energy Infrastructure Project Department,
Toyota Tsusho Corporation
Dr. Prof. Katsuhiko Hirose, CEO of HyWealth Co., and WPI Visiting Professor,
　　　　　　　　　International Institute for Carbon Neutral Energy Research, Kyushu University