Japanese Companies To Commit $17.7 Billion Investment To Projects In Egypt

Egypt is to benefit from nearly 2 trillion yen ($17.7 bn) of projects to be undertaken by the Japanese firms in electricity and other sectors. Japanese Prime Minister Shinzo Abe disclosed this after a meeting with the Egyptian President Abdel Fattah al-Sisi who is on a working visit to Tokyo. Companies from the two countries are scheduled to sign more than 10 memorandums of understanding on Wednesday March 2. The announcement comes at a time when Egypt is struggling to revive its economy after the 2011 uprising and subsequent unrest have driven away foreign investors and tourists. Read more on this economic story here.