CAIRO – 1 April 2021: Chairman of the Egyptian-Japanese Business Council, Ibrahim Al-Arabi, announced Thursday the launch of the first Japanese investments in the Suez Canal Economic Zone, in agreement with the Japanese side to establish a factory complex on an area of ​​20,000 square meters and with direct Japanese investments amounting to $ 10 million. Al-Arabi clarified in a statement that the factories will be devoted to the production of Japanese sterilization supplies and cosmetics in Egypt, according to Japanese specifications, and about 1,500 job opportunities will be created. He added that Japanese products enjoy great confidence and a good reputation among the Egyptian consumer, which gives their products great opportunities for success in the Egyptian market, expressing his happiness with the investments of the Japanese company Saraya for the manufacture of cosmetic products in the Suez Canal Economic Zone, which will attract more Japanese investments in the future to this important region. For his part, Dr. Nabil El-Mogy, Vice President of Saraya Company in Egypt and the Middle East, stated that the Japanese company, which was founded in 1952 and is present in nearly 50 countries around the world, has begun studying the injection of its investments in Egypt since 2018. Al-Mogy added that the contract was signed between the Japanese company Saraya and Hassan Allam Holding Company to start establishing the first factory complex for the Saraya Company in Egypt in the area developed by the Suez Industrial Development Company in the Suez Canal Economic Zone to serve as an export base for the company's products to the countries of the Middle East, Africa and other countries in cooperation with the Suez Canal Economic Authority.

Source: Egypt Today April 01, 2021 15:56 UTC