Egypt Underlines Japan’s Support for its Tourism, Development Projects

FM Badr Abdelatty meets with Japanese Prime Minister Fumio Kishida in Tokyo. (Egyptian Ministry of Foreign Affairs)
FM Badr Abdelatty meets with Japanese Prime Minister Fumio Kishida in Tokyo. (Egyptian Ministry of Foreign Affairs)
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Egypt Underlines Japan’s Support for its Tourism, Development Projects

FM Badr Abdelatty meets with Japanese Prime Minister Fumio Kishida in Tokyo. (Egyptian Ministry of Foreign Affairs)
FM Badr Abdelatty meets with Japanese Prime Minister Fumio Kishida in Tokyo. (Egyptian Ministry of Foreign Affairs)

Egypt’s Foreign Minister Badr Abdelatty underscored on Friday Japan’s ongoing support for significant development projects in Egypt and collaboration in the field of education.

He emphasized his country’s eagerness to expand areas of bilateral cooperation by including artificial intelligence, governance, and collaboration between institutions and research centers for the exchange and transfer of expertise, as well as boosting Japanese tourism to Egypt.

Abdelatty met on Friday with Japanese Prime Minister Fumio Kishida on the sidelines of his participation in the ministerial meeting of the Tokyo International Conference on African Development (TICAD).

Ahmed Abu Zeid, the official spokesperson of the Ministry of Foreign Affairs and Immigration, said the minister conveyed President Abdel Fattah al-Sisi’s greetings and appreciation for Kishida’s role in elevating the bilateral relationship to a strategic partnership level.

The Japanese premier, for his part, stated that Egypt was an extremely important partner for his country, being “a major regional player with a crucial role in the Middle East.”

Abdelatty emphasized Cairo’s commitment to boosting economic and trade relations, noting the importance of increasing Japanese investment in the Egyptian market and Egypt’s success in attracting significant projects despite regional and global economic challenges and regional instability.

The discussions between Abdelatty and Kishida covered Egypt’s efforts on various fronts to resume negotiations for a Gaza ceasefire agreement and the delivery of humanitarian aid to Palestinians.

The FM underscored his country’s firm stance against “escalation policies, assassinations, and violations of state sovereignty practiced by Israel,” while Kishida noted that Japan “is watching the situation in the region with deep concern.”

He stated that “continued escalation will not serve anyone’s interests,” expressing Tokyo’s support for Cairo’s efforts to reach a viable solution.

In another meeting in Tokyo with the Egyptian-Japanese Business Council, Abdelatty stressed that Egypt is making steady and rapid economic progress despite global economic crises and the challenges posed by regional disruptions.

This has led to increased competitiveness of the Egyptian economy and boosted private sector involvement and the mobilization of more foreign direct investment.

He also highlighted his country’s efforts to become a regional hub for supply chains for European companies, as well as for the transport and trading of renewable and green energy.



Saudi Investment Climate Draws 184 New Regional Headquarters

Riyadh hosts many regional headquarters for global companies (Asharq Al-Awsat)
Riyadh hosts many regional headquarters for global companies (Asharq Al-Awsat)
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Saudi Investment Climate Draws 184 New Regional Headquarters

Riyadh hosts many regional headquarters for global companies (Asharq Al-Awsat)
Riyadh hosts many regional headquarters for global companies (Asharq Al-Awsat)

Saudi Arabia’s efforts to improve its investment climate are attracting more regional companies. In the second quarter of this year, 57 companies moved their regional offices to the Kingdom, an 84% increase compared to the same period in 2023.

This follows 127 licenses issued in the first quarter, bringing the total to about 184 for the first half of the year.

The Ministry of Investment processed 4,709 investor visit visa applications, allowing foreign investors to explore opportunities in Saudi Arabia. It also addressed 38 investor issues, including legal and procedural challenges.

The Ministry’s latest report shows a 49.6% rise in new investment licenses, with a total of 2,728 issued in the second quarter, up from 1,824 a year earlier (excluding licenses from the commercial concealment correction campaign).

Recent investment licenses have been largely focused on construction, manufacturing, professional services, education, information and communications, and the food and retail sectors.

Mining and quarrying saw the biggest growth in new licenses in the second quarter, up 209.1% from last year. This was followed by other services with a 110.5% increase and wholesale and retail trade with a 96.3% rise.

The report highlights two key investment initiatives for the second quarter of 2024.

The Ministry of Economy and Planning introduced the “Sustainability Pioneers” program in Riyadh.

This initiative promotes sustainability nationwide by encouraging collaboration among top companies in key sectors, supporting the Kingdom’s green economy goals under Vision 2030.

The program emphasizes the role of public-private partnerships in achieving sustainable development and environmental protection.

Additionally, the Fashion Commission launched "The Lab" in partnership with Mohammed bin Salman Nonprofit City (Misk City) in Riyadh.

This new studio aims to advance the fashion industry by offering designers training and resources to improve manufacturing. It also seeks to create investment opportunities and support the sector’s growth.

The report also touched on the initiatives of the Saudi-British Strategic Partnership Council, which was recently established to enhance the development of mutual economic partnership in 13 vital and promising sectors. It is a forum for exchanging qualitative expertise and reviewing the latest practices in priority activities.

The initiative contributes to enhancing the volume of trade exchange between the two countries, and is accompanied by events with the participation of the most creative and innovative companies to enhance partnership in promising and emerging fields between the two countries.