SCZONE’s Delegation Discusses Cooperation With The Japanese MUFG Bank And Itochu corporation

A file photo of SCZONE’s delegation discusses cooperation with the Japanese MUFG Bank and Itochu corporation

Mr. Waleid Gamal El-Dien, chairman of the Suez Canal Economic Zone (SCZONE), held a meeting with the Japanese-Egyptian Business Council, in the presence of Mr. Jon C. Karube, Senior Executive advisor, to demonstrate the competitive features of SCZONE, which made it an important hub on the map of international industry and international trade. The conversation also touched on the importance of cooperation with The Japanese side in several targeted sectors within SCZONE.


The delegation of SCZONE and the Egyptian ambassador to Tokyo, Mohamed Abu Bakr, also met with several officials of MUFG Bank, one of the largest Japanese banks, which is the arm of retail, corporate, and investment banking services for the Mitsubishi UFG Financial Holding Group, where the meeting took place with Mr. Masamichi Kono, Senior Advisor of MUFG. The two sides exchanged their visions regarding the necessity of discussing ways and paths to support direct Japanese investments, financially. They also discussed the distinguished bilateral relations between Egypt and Japan which facilitate opening the flow of direct Japanese investments in the energy fields such as Basic utilities, areas of manufacturing, transfer of technical knowledge, and agreement on these points within the framework of signing a memorandum of understanding between the two parties soon.

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A meeting was also held with representatives of the Itochu Corporation, headed by Mr. Hiroyuki Tsubai, a Member of the Board, Senior Managing Executive Officer, and the President, of Machinery Company ITOCHU corporation. Mr. Tsubai started the meeting by welcoming the delegation of the Suez Canal Economic Zone in Japan, which represents a strategic deepening of the historical trade and economic relationship, as Itochu is a giant in the Middle East, especially in Egypt, through dealing with the Mansour Group as a commercial agent for the group’s construction equipment over the past decades.


“I appreciate the outcomes of this meeting. We always trying to demonstrate the distinguished competitive situation of SCZONE, which clarifies our slogan “integrated route… one destination”. SCZONE has a great interest in the manufacturing of green fuel and its derivatives. We also study the establishment of distinguished environmental projects in the field of waste recycling for energy production, in addition to attracting investments in the field of building, managing, and operating seawater desalination plants that are planned to be offered to local and international investors soon.” Mr. Waleid Gamal El-Dien, chairman of (SCZONE), declared.


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