Industry Minister: Singaporean Company Plans to Establish Fertilizer Plant in SCZone

Eng. Ahmed Samir, Minister of Trade and Industry, said that one of the major Singaporean companies is planning to establish a large fertilizer plant in the Suez Canal Economic Zone during the coming period.

The minister stressed that his ministry welcomes Singaporean companies wishing to inject new investments into the Egyptian market or increase existing investments.

This came during a session of talks held by the Minister of Commerce and Industry with Dominic Goh, Ambassador of Singapore in Cairo, during which they reviewed the files of economic and investment cooperation between the two countries.

The minister added that trade relations between Egypt and Singapore doubled during 2021, as the total trade between the two countries amounted to $677 million, compared to $307 million in 2020, with an increase of 120%, and Egyptian exports amounted to $505 million, pointing out that Singaporean investments in Egypt It amounts to $175 million in 33 projects in the fields of agriculture, manufacturing, services, information technology, and tourism.