Egypt Independent

Egypt welcomes Japan’s participation in major projects: Finance Minister



Egyptian Finance Minister Mohamed Maait on Saturday met with a Japanese delegation headed by Matsunaga Hideki, Director General of the Japan International Cooperation Agency (JICA) for the Middle East and Europe.

Maait assured that Egypt welcomes all cooperation with Japan in various fields, and eagerly looks forward to the participation of Japanese companies and their expertise in implementing major development projects.

He said that the JICA an international development partner that Egypt aims to enhance cooperation with, settle it in Egypt, and effectively contribute to raising the efficiency of the human element.

Hideki said he noticed fantastic development taking place in Egypt as a a result of the reform efforts implemented by the Egyptian government, which he said showcases the determination of Egypt’s people and their wise political leadership to modernize their country.

He further praised the level of development cooperation between Egypt and Japan.

Maait called on investors around the world to take advantage of the promising development opportunities in Egypt by participating in the implementation of major projects aimed at laying the foundations for comprehensive and sustainable development – especially in light of the incentives provided by the Egypt government to investors.

The performance of the Egyptian economy is improving, he stated, reflected within the financial indicators of the budget from July to March of the current fiscal year 2020/2021.

Maait explained that a primary budget surplus of LE25 billion was achieved, despite the coronavirus pandemic that affected global economies, and that the necessary support was provided to the sectors and individuals most affected by the pandemic, which reflects the positive results of the economic reform program.

Egypt aims to achieve an economic growth rate of 5.4 percent during the next fiscal year, he added in order to continue the economic reform process and preserve the gains made.

Edited translation from Al-Masry Al-Youm