El-Gossaki affirmed GAFI’s commitment to strengthening cooperation with Singapore. He noted that Singapore is among the largest Asian investors in Egypt. He pointed out that major Singaporean companies are focused on the food industries sector. He also highlighted Singapore’s advanced expertise in logistics, port management, smart infrastructure, renewable energy, and digital transformation.
El-Gossaki added that the Authority aims to attract
high-quality investments that support development plans and facilitate the
transfer of expertise and technology to the Egyptian market. He stressed the
continued development of the business environment. He emphasized providing
comprehensive support to investors. He also underlined the importance of
opening direct communication channels with Singaporean companies to explore
investment opportunities in priority sectors.
The meeting reviewed cooperation opportunities in logistics
services, food security, clean energy, urban development, and digital
infrastructure projects. He said these sectors would enhance the
competitiveness of the Egyptian economy and support efforts to attract
investment.
Both sides noted that the official visit to Singapore
contributed to strengthening bilateral relations. They said it increased the
interest of Singaporean companies in the Egyptian market. They referred in
particular to the Business Forum held in cooperation with GAFI. The forum
witnessed the signing of several memoranda of understanding across multiple
sectors.
El-Gossaki explained that the Egyptian government is working
to improve the investment climate through economic reforms and monetary
policies aimed at achieving financial stability and reducing inflation rates.
He added that these efforts also include simplifying procedures, reducing
burdens on investors, and enhancing transparency. He said these measures have
led to higher investment rates and increased tax revenues without raising tax
rates.
Both sides also emphasized priority areas of cooperation in
the coming period. They highlighted cooperation with Singaporean sovereign
wealth funds. They also stressed expanding green and renewable energy projects.
They underlined the importance of developing exports and logistics services.
Major Singaporean companies operating in shipping and logistics
expressed interest in expanding their activities in the Egyptian market. They
also showed interest in participating in airport management and operation
opportunities within the Cairo International Airport development plans.
For his part, Dominic Goh expressed appreciation for the
progress in Egypt’s investment environment. He confirmed the interest of
Singaporean companies in exploring investment opportunities. He also stressed
their desire to strengthen cooperation with the Authority in the coming period.
At the conclusion of the meeting, both sides emphasized the
importance of continued coordination and institutional communication between
relevant entities in both countries. They stressed the need to translate the
discussions into practical implementation steps. They said this would enhance
joint investment opportunities and support the strategic economic partnership
between Egypt and Singapore.