Egypt and Singapore agree on a mutual co-operation in upgrading ports, shipbuilding and growing investment in the SCzone, Invest-Gate reports.

The statement was released on the sideline of Minister of Investment and International Co-operation Sahr Nasr’s recent visit, along with the Chairman of the Suez Canal Authority and the Suez Canal Economic Zone (SCZone) Vice Admiral Mohab Mamish, to Singapore.

The Singaporean Deputy Prime Minister (DPM) and the National Security Advisor Teo Chee Hean stress their country’s interest in cooperating with Egypt in areas of common interest and across many sectors, especially in economic zones, maritime transport, as well as ports and investment in industrial projects in Egypt.

The consultations have been conducted for co-operation with the Singapore Port Authority (PSA) and PS – PSA, which is one of the largest port-operating companies in the world. Further, knowledge exchange between the Singaporean side and its Egyptian counterpart regarding the development of SCZone’s ports was taken into consideration.