Egypt seeks more investments, strengthens Singapore ties

Egypt is actively working to enhance its business environment to attract investors from various sectors, said Finance Minister Ahmed Kouchouk during a meeting with Singapore’s Second Finance Minister Chee Hong Tat at the G20 Summit in Brazil.

The government is focusing on boosting production and exports to enhance investment potential, utilising the ‘golden license’ initiative to simplify investment processes.

Singapore, Egypt’s fourth largest Asian investor, is a prime target for attracting more companies to boost the economy. Kouchouk proposed deepening private sector collaboration between the two nations to enhance their economic capacities.

Kouchouk highlighted maritime ports and renewable energy projects as promising areas for co-operation.

He also pushed for a high-level dialogue between Egypt and Singapore’s finance ministries to exchange expertise in various areas like human capital development, digital transformation, financial technology, tax administration, and financial policy.

Attribution: The Cbinet statement