Eng. Ibrahim El Araby , the Chairman of the Egyptian-Japanese Business Council, Cairo Chamber of Commerce, and the General Federation of Egyptian Chambers of Commerce, announced the start of establishing the Japanese Sumitomo factory in Port Said for the manufacture of automotive wiring harness, where it provides more than 1,000 jobs for young people.

This came during his speech at the opening session of the Egyptian Investment Forum on Tuesday, August 27, in the presence of Dr. Sahar Nasr, Minister of Investment, Engineer Amr Nassar, Minister of Trade and Industry, and more than 50 Egyptian and Japanese businessmen.

El Araby said that the Egyptian-Japanese Business Council strives to overcome all obstacles faced by investors to increase Japanese investments in Egypt, and Egypt is sparing no effort in this regard.

El Araby praised the offers made by Egyptian companies to boost investment in Egypt, such as El Sewedy, El Araby Group, Orascom and Modern Machinery.

He added “The road to development and progress in Africa starts from Egypt as it is the gateway to the continent. We have to utilize tax-free zones and establish a Japanese industrial zone, especially now with the Silk Road stretching across the Middle East.

“Egypt is not only a gateway to 100 million Egyptians but 1.2 billion people in the African market.”

It worth mentioning that the opening session of the Egyptian Investment Forum in Yokohama, Japan, witnessed a comprehensive presentation of the Egyptian side on the promising sectors of the Japanese partnership and investment in Egypt and the opportunities of cooperation between the two sides presented by the Japanese Foreign Trade Organization (JETRO).