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Government directed to Singapore and Vietnam to support Suez Canal projects

 A highly ranked governmental delegation went to Vietnam and Singapore to support investment, relationships and cooperation in a number of fields and activating agreements signed at the end of last October between Singapore and Egypt presidents.  

On 31st of October Singapore president, Tony Tan King has signed an agreement with president Sisi to implement  joint projects  at 9 sectors including” water and ports’ management, general and technical education, civil aviation and electronic controlling, ordinary and small projects, information technology, general administration”

 Dr. Sahar Nasr, investment and  international cooperation minister said that the visit comes within framework of implementing agreements between Singaporean and Egyptian presidents and opening new fields in front of  entrance of Singaporean  investments and experiences to Egypt in the coming period especially in Suez Canal development corridor and in the field of ports.

  Singaporean investments in Egypt reach 400 million dollar in many fields  first of which comes agricultural sector, where number of Singaporean companies   founded according to laws and incentives of investment in Egypt reaches 65 company with participations reaching 33.3 million dollars and trade exchange volume between the two countries 522 million dollar in 2015 against 671 million dollars.  Whereas there are only 9 Vietnam countries working in Egypt only with investments not exceeding 300 thousand dollar

 In this respect, vice admiral Mohab Mameesh, head of Suez Canal general authority  assured  political concern in regio’s projects and necessity of pumping investments in them and facilitating for investors all means, pointing out that visit to Vietnam and Singapore  with investment minister, Dr. Sahar Nasr was to debate means of cooperation with major Vietnam and Singapore companies  in several fields, also meeting with officials of a number of navigational lines to debate attracting  some of which to work in the region’s ports.

 

  Nasr also met before Singapore ambassador in Cairo within framework of reinforcing  investment and economic cooperation relationships  between the two countries  , where both sides  discussed  increasing Singaporean investments in Egypt  especially in the field of transport, ports exchanging experiences and training cadres in different sectors,  and benefiting from technology and experience of Singapore in fields of maritime transport, communication and information technology, and reinforcing technical cooperation in fields like fish wealth, ordinary and small  projects, new and renewable energy to make use of available technical experiences for both sides.

 Singapore ambassador in Cairo has also expressed his country looking forward to work at Suez Canal corridor project and implementing a number of developmental projects there, pointing out to his country experience in establishing and managing ports, water treatment and desalination that Singapore was depending upon contiguous countries to provide with.   

 

 Dr. Nasr aims out of the visit, in compliance to Singapore invitation, to overview its experience in attracting investments and propagating for, setting plans and investment maps, meeting with mega Singaporean companies to propagate for available privileges and guaranties through new investment law, and debating establishment of an Egyptian Singaporean investment forum to promote relationships between the two countries  to open new horizons for investment and economic cooperation in different fields.   

 

 

 

 

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