What is Japan doing in Egypt, what is the secret of the migration of large Japanese factories to the Egyptian market, what is happening in the manufacturing file now, and how Egypt will remain a great industrial power in the region. We will learn all of this with you in this video, so stay with us until the end.
Egypt will be a global center for manufacturing.. By the way, these are not our words, but there were statements from the directors of two of the largest Japanese companies, Yazaki and Sumitomo, during the ceremony of laying the foundation stone for the Yazaki factory in Egypt. These people do not say words, but they always deal with numbers and facts and explain their words that Egypt It will be a center for manufacturing, as the Egyptian market is one of the best emerging markets today and has a very large competitive balance, such as cheap trained labor, the low exchange rate of the pound, and advantages. The golden license and the large investment facilities approved by the Egyptian government, in addition to Egypt’s geographical location, which tempts any international company that comes to operate in Egypt due to its proximity to all markets in Europe, Africa, and West Asia, in addition to the strong and modern infrastructure that was used during the era of President Sisi..
Ok, Yazaki and Sumitomo, what are they working on?
Look, sir, they are considered one of the largest car manufacturing companies in Japan, and they have pledged to pump huge investments into Egypt in the coming period to transform Egypt into an industrial power in the automotive sector. This is after the two companies obtained the golden investment license from the Egyptian government, which was used specifically to stimulate investment in Egypt.
In order to know the story of the golden license, it is simply one simplified approval process that allows companies to establish, operate and manage projects without the need for multiple permits. This was on instructions from President Sisi to simplify procedures and eliminate the red tape and complications that were distracting investors, even if they thought this happened after President Sisi personally supervised the investment file. .
Ok, what is the story of the Yazaki project in Fayoum?
Look, Mr. Yazaki, which is considered the leading global supplier of auto spare parts, has already begun building a factory worth $33 million in the Fayoum Investment Free Zone as an initial payment. This is the first project to remain fully owned by foreigners, and this is the beginning of Egypt’s transformation into an industrial powerhouse. The factory will begin operating in July 2024 and will produce electrical cables for cars. For export to European and African markets with expected annual exports of €100 million.
The president of Yazaki Egypt, as we said, explained the reasons for the Japanese company building the factory in Egypt because of Egypt’s modern infrastructure, competitive logistics network, the factory’s innovative technology, and its potential to create 3,500 direct and indirect job opportunities, making it the cornerstone of Egypt’s 2030 vision for sustainable development.
Yazaki entered Egypt after the strong launch of Sumitomo Electric Company in Egypt, which established a new factory for it in Egypt, which is considered one of the largest factories in the world for manufacturing electrical wire bundles. Its cost amounted to 22 million US dollars in the 10th of Ramadan City, and extends over an area of 150 thousand square meters. It integrates advanced production lines, a training academy, and a research and development center, and it also operates with solar energy, meaning it does not consume electricity from stations that operate on fuel.
