Cairo – Mubasher: Ibrahim El-Araby, Chairman of the Egyptian-Japanese Business Council, announced the launch of the first Japanese investments in the Suez Canal Economic Zone (SCZone) through the establishment of a new industrial complex.

With direct Japanese investments of $10 million, the complex will be built over 20,000 square metres (sqm) and is expected to create about 1,500 jobs, El-Araby said in a statement on Thursday.

Factories in the planned complex will be dedicated for manufacturing Japanese sanitisers and cosmetics in Egypt as per the Japanese standards, he noted.

An agreement was signed between Japan’s Saraya Co and Hassan Allam Holding for the establishment of the project.