The Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), Waleid Gamal El-Dien, participated in the 12th session of the Egyptian-Japanese Business Council and the Egyptian-Japanese Investment Forum in Tokyo, according to SCZONE's release.
The meeting was attended by Egypt’s Prime Minister Mostafa Madbouly and Japan’s State Minister of Economy, Trade and Industry Yuichiro Koga, together with officials and business representatives from both countries.
The event was held to support bilateral economic relations and joint investment partnerships.
Two cooperation agreements were signed during the forum.
The first agreement was concluded with ITOCHU Corporation and Orascom Construction to design, develop, and operate facilities for supplying ships with ammonia as marine fuel at SCZONE ports in Sokhna and East Port Said.
The second agreement was signed with the Tokyo Metropolitan Government to cooperate in green hydrogen for ship bunkering, through knowledge exchange, demand stimulation, and promotion of clean energy applications.
On the sidelines, Gamal El-Dien met with Sumitomo Corporation representatives, including Shohei Takenouchi, Assistant Head of Global Strategy & Coordination Department – Middle East and Africa Team. The discussions covered the establishment of a new industrial zone under the developer model within SCZONE to attract Asian investments, as well as cooperation in ship bunkering with various fuel types and collaboration in green hydrogen for export, maritime use, or industrial applications such as green steel. The talks also addressed possible participation of Sumitomo in infrastructure projects, including water desalination plants and a hydrogen service corridor.
General Authority for the Suez Canal Economic Zone (SCZONE) is an Egyptian governmental authority established in 2015 to manage and develop a designated economic area along the Suez Canal. It oversees industrial and logistics zones, ports, and investment activities in the region.
ITOCHU Corporation is a Japanese company headquartered in Tokyo. It engages in domestic and international trade across multiple sectors, including energy, machinery, chemicals, textiles, and food.
Orascom Construction PLC is a Global Engineering and construction contractor incorporated in the Netherlands and listed on the Egyptian Exchange and NASDAQ Dubai. It operates in infrastructure, industrial, and commercial projects across the Middle East, Africa, and the United States.
Sumitomo Corporation is a Japanese company headquartered in Tokyo and part of the Sumitomo Group. It is involved in diversified businesses, including metal products, transportation, infrastructure, energy, chemicals, and real estate.