Agreements signed with Singapore, Vietnam to develop Suez Canal area

CAIRO- 30 August 2017: Egypt signed an agreement with the Maritime and Port Authority of Singapore to work on building a new pier in the Suez Canal governorate of Port Said, chairman of the Suez Canal Authority (SCA) Mohab Mamesh said Wednesday.

In a meeting with SCA’s board of directors to review the results of his visit to Singapore and Vietnam that took place last week, Mamesh said he agreed with a Singaporean technical education institution to build a training center in the Suez Canal Economic Zone (SCZone).

During his four-day tour in Asia, Mamesh discussed with Vietnamese companies cooperating in the establishment of an international arsenal at Adabiya area in northwestern the Gulf of Suez.

He moreover agreed with Vietnam’s Ministry of Industry and Foreign Trade to cooperate in fish-farming, establish a technical training center and exchange expertise in shipbuilding.

In an official visit to Vietnam and Singapore from August 22 to 26, Minister of International Cooperation and Investment, Sahar Nasr, and Mamesh targeted signing contracts and memoranda of understandings (MoUs) for the SCZone.

In an interview with Singapore’s the Straits Times on the sidelines of her visit, Nasr said that Egypt is looking forward to establishing an industrial park in SCZone with Singapore.

She said that Egypt is keen on attracting Singaporean investors, especially in the urban development, utilities, maritime and food-processing sectors, adding that Singapore has significant expertise in urban development.