Egypt’s SCZONE courts Singapore investment during presidential visit

Singaporean President Tharman Shanmugaratnam toured Egypt’s Suez Canal Economic Zone (SCZONE) on Monday to discuss potential investments and avenues for cooperation, the Egyptian Cabinet said in a statement.

SCZONE Chairman Waleid Gamal El-Dien said the visit underscored the zone’s role as a gateway for global trade, citing its four industrial areas, six ports, and integrated logistics and industrial infrastructure. He added that investments from more than 20 countries already operate within the zone, reflecting international confidence in its potential.

Gamal El-Dien invited Singapore to establish a specialised industrial zone inside SCZONE and explore opportunities in port development, ship services, fuel supply, and green energy projects.

During the visit, Shanmugaratnam was briefed on development plans for Ain Sokhna Port through a scale model at SCZONE headquarters before touring the port to inspect ongoing upgrades.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser