Arab Finance: Lieutenant General Engineer Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, received a meeting with Oka Hiroshi, the Japanese Ambassador to Cairo. And the delegation of Yazaki Electrical Systems Company Motors, to review the company's current position and future plans, and discuss opportunities to enhance its investments in the Egyptian market, in addition to examining ways to develop cooperation between Egypt and Japan in the fields of industry and transportation.
During the meeting, developments in the company’s establishment of its factory specialized in producing electrical systems for cars in Fayoum Governorate were reviewed, on an area of 67 thousand square meters, with direct foreign investments amounting to 30 million euros, as the factory aims to export its entire production to major international car companies in Europe with an export volume of about 100 million euros. Annually, it will provide about 3,000 direct job opportunities and 500 indirect job opportunities. The factory is scheduled to begin production by March 2025. The company also aims to establish a logistics services center on an area of 5,000 square meters.
The Minister also stressed the Ministry’s keenness to provide all possible support to the company to start its production in the Egyptian market and remove any challenges it may face with regard to industrial procedures, indicating the possibility of the company cooperating with the Department of Productive Efficiency and Vocational Training through the company taking over the management of the Department’s training center in Fayoum, which will contribute To produce graduates with the highest level of professionalism and technical competence, and to be familiar with the latest methods used in Japanese industry to meet the company’s factory’s needs for trained technical workers, in coordination with the Ministry’s technological centers.
The Minister pointed out the desire of the Egyptian side to cooperate with Japanese companies in the fields of green industries, which include new and renewable energy production equipment and components, such as solar panels, wind turbines, and green ammonia, as Japanese companies can establish projects in these fields in the Egyptian market in a way that is in the interest of the economy. Both countries and meets the needs of the local market and foreign markets.
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