Friday 22 Nov
Egypt's Minister of Investment and Foreign Trade, Engineer Hassan Al-Khatib, and Singaporean Ambassador Dominic Goh met to discuss enhancing economic cooperation between the two nations. Prakash Janoo, Managing Director of Olam Singapore, and Hossam Heiba, CEO of Egypt's General Authority for Investment and Free Zones, were also present.
The Minister emphasized the
importance of bolstering the strategic partnership between Egypt and Singapore
to drive economic growth in both countries. The meeting focused on strategies
to expand trade relations and foster joint investment opportunities.
Al-Khatib highlighted the
substantial economic potential of both Egypt and Singapore and emphasized the
need to convert this potential into concrete cooperation projects benefiting
both countries. He assured Singaporean companies of the ministry's full support
for their investments and expansion plans in Egypt.
Ambassador Goh commended Egypt's
ongoing economic reforms, which have created a favorable climate for foreign
investment.
Prakash Janoo, Olam's Managing Director, expressed the company's commitment to expanding its Egyptian operations. Olam plans to increase its investment by $22 million to a total of $55 million, leveraging Egypt's abundant natural resources, skilled workforce, and modern infrastructure. Janoo praised the Egyptian government's strong support for foreign investors.
