Thursday 21 Nov
Engineer Hassan Al-Khatib, Minister of Investment and International Cooperation, met with Oka Hiroshi, Ambassador of Japan to Cairo, and a delegation from Yazaki, a leading Japanese manufacturer of electrical harnesses.
The delegation included Yamada
Moninori, President of Yazaki Limited for the Middle East, Europe, and Africa,
Engineer Ahmed Badewi, Managing Director of Yazaki Egypt for Electrical
Systems, and Engineer Sherif Al-Shal, General Manager of Operations at Yazaki
Egypt for Electrical Systems.
The meeting focused on the
progress of the Yazaki factory construction in Fayoum Governorate, which will
manufacture automotive electrical harnesses.
The Minister highlighted that the
factory, built on 67,000 square meters with a €30 million investment, has
already secured a golden license under the government's accelerated
implementation program. Upon completion, it will create approximately 3,000
direct and 500 indirect jobs.
He emphasized that Egypt's
competitive labor market, favorable wages, and investment incentives,
particularly for free zone projects, coupled with its extensive network of
trade agreements, have attracted Yazaki to invest in the country.
The Japanese Ambassador expressed
his commitment to strengthening bilateral relations between Japan and Egypt and
commended the Ministry of Investment and International Cooperation for its
ongoing support of Japanese investments in Egypt, including the Yazaki project.
Yamada Moninori, President of
Yazaki Limited for the Middle East, Europe, and Africa, reiterated the
company's strategic focus on the Egyptian market as a key regional hub. He
noted that the Fayoum factory aims to export 100% of its production to European
markets, with annual sales projected to reach €100 million.
Engineer Ahmed Badawi, Managing Director of Yazaki Egypt for Electrical Systems, shared that Yazaki Japan operates in 46 countries worldwide, employing approximately 240,000 people and supplying automotive components to major global automakers. He emphasized the company's commitment to sustainability and its plans to incorporate green energy into all stages of manufacturing at the Fayoum factory.
