- Egypt and Singapore explore ways to enhance economic and trade ties during the OECD meeting.
- Egypt highlights progress in green financing, renewable energy, and private sector-led growth.
- Egypt invites more Singaporean investment in industry, agriculture, and tech.
Egypt’s Minister of Planning, Economic Development and International Cooperation, Rania Al Mashat, met in Paris with Singapore’s Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, to explore strategies for enhancing economic and trade collaboration between their nations.
The gathering took place alongside the OECD Ministerial Council Meeting. Conversations centered on Egypt’s advancements in establishing a more robust legislative and regulatory structure to enhance green financing options for the private sector. Al-Mashat pointed out that Egypt's private sector obtained more concessional development funds than the government in the previous year.
She emphasized Egypt’s dedication to shifting to a green economy by utilizing its natural resources to enhance renewable energy capacity and participate in low-carbon hydrogen production projects.
The minister highlighted Egypt's significant investments in recent years in transportation, logistics, and port infrastructure, which are part of wider economic and structural reforms that have strengthened the economy's resilience.
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These initiatives have redirected GDP growth toMacron Visits Southeast Asia to Boost EU Trade and Security Tiesward the non-oil manufacturing, transport, and storage industries. During the initial half of the ongoing fiscal year, private investment represented more than 50 percent of overall investments, she noted.
Al-Mashat urged increased Singaporean investment in Egypt, particularly in sectors like manufacturing, agriculture, and technology.
She pointed out that Singaporean investments in Egypt are presently focused on five main sectors: agriculture, logistics, food production, information technology, and plastics manufacturing.
She stated that Egypt is dedicated to creating a more appealing climate for foreign investments and seeks to enhance growth by drawing in additional capital from Singapore, especially in key areas such as industry and agriculture.