GAFI CEO: Mitsubishi interested in iron, steel industries in Egypt

Chief Executive Office (CEO) of the Egyptian General Authority For Investment and Free Zones (GAFI) Mohamed Khodair said Mitsubishi Corportation has shown interest in a number of industries in Egypt, especially the renovation of the iron and steel industry according to the latest Japanese technology.

A statement released Sunday, said GAFI's CEO remarks were made following his meeting with a number of African and Japanese ministers and officials on the fringe of his participation in the Tokyo International Conference on African Development (TICAD), which is currently in session the Kenyan capital Nairobi.

Khodair asserted to Mitsubishi officials that GAFI was fully ready to offer any necessary support that could push up the Japanese investments in Egypt in view of the Egyptian government's plan to motivate the private sector to join new partnerships or expand their presence in the Egyptian market. 

GAFI CEO also met with CEO of Europe, Middle East and African Region at Bank of Tokyo-Mitsubishi UFJ (BTMU) Masahiro Kuwahara who also asserted that his corporation was deeply interested in supporting the Japanese companies willing to set up investments in Egypt.

Khodair affirmed that Egypt is the second biggest economy in Africa and has established partnerships with the European Union, the American, the Middle East and African markets through GAFTA along with a set of bilateral agreements as part of its membership in COMESA.

The statement also said Khodair met with Togolese Minister of Trade and Industry Bernadette Legzim-Balouki, who expressed his country's wish for Egypt's participation in Togo International Fair, set for late 2016.

GAFI CEO asserted that Egypt was committed to supporting African countries, especially Togo in view of its strategic location in western Africa.

Khodair also conferred with Executive Director of Tanzania Investment Center Clifford Tandari on means of bolstering joint cooperation in the investment domain. The Tanzanian official requested GAFI CEO to organize more training programs for the Tanzanian cadres, voicing his resolve for signing a memorandum of understanding to exchange expertise on means of luring foreign investments and buttressing cooperation between the Egyptian companies and their Tanzanian counterparts.