Thursday 21 Nov
Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade, laid the foundation stone for the Japanese Otsuka Company for the Manufacture of Health Nutrients on the 10th of Ramadan, on behalf of Prime Minister Dr. Moustafa Madbouly. The event was attended by Engineer Hazem Al-Ashmouni, Governor of Sharkia, Oka Hiroshi, Ambassador of Japan in Cairo, and Ahmed Zaghloul, Director of the Board of Directors. Otsuka Arab Health Nutrition Company.
The Minister emphasized the
project as a testament to the robust economic partnership between Egypt and
Japan. He highlighted Egypt's commitment to fostering a dynamic, globally
competitive investment climate.
Otsuka, a leading Japanese
multinational, has been a significant player in Egypt's pharmaceutical and
healthcare sector since 1977. Their latest venture, a medical solutions factory
in the 10th of Ramadan industrial zone, represents a substantial investment of
one billion Egyptian pounds.
The company's new initiative aims
to produce health supplements, with Oranamin C as its inaugural product.
Targeting both domestic and international markets, particularly in Africa and
the Gulf, this project has received substantial government support, including a
golden license to expedite its implementation.
Otsuka's achievement of a golden
license positions it as a model for foreign investors seeking to enter the
Egyptian market. Its strategic location, coupled with a burgeoning industrial
base and favourable trade agreements, makes Egypt an attractive destination for
global businesses.
This new factory will not only
cater to the local market but also serve as a crucial link in regional and
global supply chains. It underscores global confidence in Egypt's potential as
a hub for industrial growth and innovation. By generating employment
opportunities, facilitating knowledge transfer, and driving the development of
advanced industries, this project aligns with Egypt's broader economic
aspirations.
The Egyptian government remains dedicated to strengthening infrastructure, streamlining regulations, and creating a conducive investment environment. The strong bilateral relationship between Egypt and Japan will continue to drive economic cooperation, attracting Japanese investments that contribute to technological advancement, job creation, and economic growth.
