The offer falls within the scope of a plan to issue various medium and long-term government bonds
The Egyptian Ministry of Finance said in a statement on Monday that it is considering issuing bonds in Japan for the first time as part of a plan to issue various government bonds.
This came during a meeting between Finance Minister Mohamed Mayt and the Japanese ambassador in Cairo.
The ministry statement said that the bond issuance is part of a program to issue various medium and long-term government bonds targeting new instruments such as sukuk, sustainability bonds and green bonds. This will help expand the investor base and attract additional liquidity to the government securities market, the ministry said, thus helping reduce the cost of debt.
Egyptian Finance Minister Mohamed Maait affirmed the enthusiasm of all state institutions to prepare to do everything necessary to encourage domestic and foreign investment and to overcome any obstacles that investors may face. This helps in localizing industries, maximizing our production capacity and expanding our export base, which in turn helps drive economic growth and create more job opportunities.
The minister pointed out that given the state’s support for the transition to the use of modern and environmentally friendly means of transportation, there are great opportunities for Japanese car manufacturers to invest in Egypt, especially in the field of manufacturing electric cars.
The minister explained that Japan supports the implementation of the comprehensive health insurance system and cooperation in the field of education development through the experience of Japanese schools and universities.
For his part, the new Japanese ambassador to Cairo, Hiroichi Oka, said that there are new Japanese companies that have decided to invest in Egypt for some time to come. Benefit from business performance and an attractive and stimulating investment climate.
The ambassador stressed that the Japanese business community and investors in Egypt are satisfied with the application of the ACI system to the pre-registration of export goods at the port’s customs.