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Arab Finance: CEO of the General Authority for Investment and Free Zones (GAFI) Mohamed Awad met with Singapore's Ambassador to Cairo Dominic Goh to discuss ways to strengthen investment cooperation between the two countries and attract additional Singaporean investment into the Egyptian market, according to a statement.
The meeting comes as part of efforts led by Minister of Investment and Foreign Trade Mohamed Farid to enhance economic cooperation with international partners and boost foreign direct investment (FDI) inflows.
During the discussions, both sides reviewed opportunities to expand investment and trade ties and explored mechanisms to increase Singaporean investment flows into Egypt.
They also discussed plans for Singapore to host an investment forum by the end of 2026, bringing together business representatives from both countries to showcase investment and partnership opportunities in the Egyptian market.
The two sides further proposed holding quarterly roundtable meetings with Singaporean companies operating in Egypt to monitor expansion plans and identify growth opportunities.
It is worth noting that 149 Singaporean companies currently operate in Egypt with combined investments of approximately $562.2 million, spanning agriculture, food processing, logistics, and digital transformation.
Awad said that GAFI remains committed to fostering a competitive and attractive investment climate that supports the expansion of Singaporean investments across various sectors.
Moreover, he noted that Egypt and Singapore serve as strategic gateways to their respective regions, with Singapore acting as a hub for East Asian investments and Egypt serving as a regional center connecting investors to African markets.
For his part, Goh said that Singaporean institutions view Egyptian President Abdel Fattah El-Sisi's meeting with Singaporean President Tharman Shanmugaratnam last September as a catalyst for strengthening economic relations between the two countries.
Goh added that interest among Singaporean companies and wealth management funds in the Egyptian market is growing, particularly in sectors such as logistics, renewable energy, information technology, and healthcare.
