Egypt, Singapore eye stronger bilateral cooperation in ports, investment

Egyptian Prime Minister Moustafa Madbouly met Singaporean President Tharman Shanmugaratnam in Cairo on Saturday to discuss boosting trade and investment ties, the Cabinet said.

Madbouly said the visit marked a step forward in bilateral relations, highlighting opportunities in port management, foreign direct investment, tourism, and water desalination. He welcomed growing Singaporean investment in Egypt and expressed hopes to attract more under Egypt’s infrastructure expansion and investment reforms.

The prime minister also stressed the importance of the upcoming Egypt-Singapore Business Forum, saying both nations could leverage their strategic locations to strengthen trade links.

Shanmugaratnam called for higher bilateral trade, explored port cooperation, and emphasised private sector participation, including potential projects in the Suez Canal Economic Zone (SCZONE).

Madbouly briefed him on Egypt’s plans to modernise ports, expand incentives in SCZONE, and involve private investors in airport management with International Finance Corporation support.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser