Egypt is keen to boost Singaporean investments in the country, Finance Minister Mohamed Maait said during a Friday meeting with the new Singaporean ambassador, Dominic Goh.
Maait said that the country is looking forward to increasing Singaporean investments in Egypt through the promising opportunities offered in various developmental fields.
He said such opportunities come in light of the priority given by the state to investment, which is now under the direct supervision of the prime minister, ensuring rapid delivery and facilitated cooperation procedures between various competent authorities to improve the climate for doing business.
A ministerial cluster including all relevant ministers meet periodically to determine challenges and obstacles facing investors and how to overcome them, Maait said.
He stressed the importance of benefitting from the successful Singaporean experience in port management, education, health and human development, through continued support of capacity-building and an exchange of experiences between the two countries.
Goh stressed his country’s keenness on boosting bilateral ties with Egypt, and its readiness to participate in Egypt’s development.
Singaporean investments in Egypt stand at $500 million and the 2018 trade exchange was $1 billion, the Singaporean ambassador said in press statements in November.