$400 million worth of Singaporean investments in Egypt: minister

Singapore’s investments in Egypt have reached $400 million, Egyptian Investment Minister Dalia Khorshed said Wednesday.

There are around 65 Singaporean firms operating in several sectors in Egypt, notably agriculture, with contributions worth $33.3 million, Khorshed added.

The Egyptian minister’s remarks were made following her meeting with Premjith Sadasivan, Singaporean ambassador to Cairo, on Wednesday.

The two officials discussed the preparations for Singaporean President Tony Tan’s visit to Egypt scheduled for the end of this month.

President Tony Tan will be heading a high-level delegation of three minsters, members of parliament, and more than 16 investors working in infrastructure, water, energy, services, and housing sectors.

The Singaporean investors set to accompany President Tan are willing to know the investment opportunities in the Suez Canal economic zone project, ambassador Sadasivan said.