Main issues discussed are:

-          Means of enhancing mutual cooperation, with a special focus on financing investing projects of top priority to Egypt.

-          Necessity of overhauling the...

  Main issues discussed are: -          Means of enhancing mutual cooperation, with a special focus on financing investing projects of top priority to Egypt. -          Necessity of overhauling the infrastructure to pave the way for doing businesses and increasing investment appetite. -          Procedures  adopted  for automating tax and customs services,  amending the relevant legislations, and introducing investment-related incentive packages.   Minister of Finance, Dr. Mohamed Maait, stresses keenness of the Egyptian government to enhance investment environment and to lure more investors. Constructing new infrastructure, building roads and bridges, implementing national projects in fields of new and renewable energy, and installing electricity networks,  are all factors that help in improving business environment,  overcoming investment obstacles, opening new investment opportunities and encouraging investors to increase their investment quotas in the Egyptian market. These statements are announced by Dr. Maait in his  meeting with the Ambassador of Japan to Egypt, Mr. Masaki Noke, and in participation of a high-level delegation from the Embassy of Japan in Cairo, the Japanese business association and representatives of 30 Japanese companies investing in Egypt in automotive and food industries.  In attendance also were Mr. Ahmad Khouchouk, vice minister of finance for fiscal policies, Mr. Emad Sami, head of the Egyptian Tax Authority, Mr. Emad Abd Al-Hamid, head of the finance sector, Mr. Kamal Negm, head of the Egyptian Customs Authority, Ms. Mona Nasser, head of the unit in charge of ministerial meeting affairs and assignments follow-up, and Ms. Doaa Hamady, head of foreign relations unit. The meeting discussed means of promoting joint Egyptian-Japanese cooperation, focusing in particular on financing investment projects of high priority in the Egyptian agenda. In a bid to boost investment and facilitate procedures for investors, Ministry of Finance has recently established an investment unit in collaboration with Ministries of Investment and International Cooperation, Dr. Maait announces.  Main objective of the said unit is to support investors and  solve any problems they confront. Such step proves Egypt's honest endeavors to revive business environment and attract investments, and also sends an inviting message to the international and local investment  communities to increase their activities in the Egyptian markets, he adds. Japanese investments enjoy a large share in the Egyptian markets and contribute significantly to many fields; namely automotive, food and ceramic industries, says Dr. Maait.  In the meantime, Ministry of Finance seeks to attract more Japanese and foreign investments through carrying out a number of steps; namely, automating taxation and customs services, amending their related legislations, offering investment-related incentive packages, such as giving sovereign guarantees for projects contributing to the achievement of more sustainable development levels. Moreover, through sharing experiences with the Japanese investors, the Ministry works to provide a suitable industrial environment capable of boosting major local industries such as the automotive industry. On his part, Ambassador of Japan to Egypt lauded the significant efforts of the Egyptian government in pursuit of the recent economic reform process, asserting his keenness for maintaining such joint cooperation and for holding constructive meeting with Egyptian parties to discuss the different economic and industrial issues.