Singapore ready to share development experience with Egypt: Senior Minister of State for Foreign Affairs and Home Affairs Masagos Zulkifli

Singapore is ready to share its development experience with Egypt, said Senior Minister of State (SMS) for Foreign Affairs and Home Affairs Masagos Zulkifli, as the Arab country seeks to revitalise its economy after years of political upheaval.

Mr Masagos was speaking at the Egypt Economic Development Conference organised by the Egyptian Government, the Ministry of Foreign Affairs said in a statement on Sunday.

Held at the coastal resort of Sharm El-Sheikh from Friday to Sunday, the conference showcased investment projects and opportunities in the Arab world's most populous country to global business and political leaders.

"Egypt has tremendous potential due to its strategic location in the Middle East and the size of its domestic market," Mr Masagos said in a statement at the conference, according to MFA.

He noted that Singapore and Egypt have been engaged in cooperation and exchanges in the areas of capacity-building and personnel training.

"We are ready to share our experiences in areas of development, particularly in the development of urban areas.

"Another potential area of bilateral cooperation is port development...we welcome greater collaboration with the Suez Canal Authority (SCA) and other government agencies on the Suez Canal Regional Development Project (SCRDP)," added Mr Masagos.

Egypt had secured billions of dollars in investment deals and aid pledges by Saturday at the conference, which is hailed as a show of support for President Abdel Fattah al-Sisi and his fight against extremists, Agence France-Presse reported.

Among the deals was a 4 billion euro (S$5.85 billion) agreement with German conglomerate Siemens for a 4.4 gigawatt power plant, and an additional 2 gigawatts in wind power, AFP said. British Petroleum was also due to sign a US$12 billion (S$16.71 billion) deal - shared with Russian partner DEA - to develop Egyptian gas fields.

Egypt's tourism minister Khaled Ramy said on Sunday the country also hopes to generate US$20 billion in revenue from tourism by 2020 by attracting 20 million visitors.

Besides attending the conference, Mr Masagos also called on Prime Minister Ibrahim Mahlab suring his visit to Egypt, MFA said. They reaffirmed the warm and longstanding relations between Singapore and Egypt and discussed ways to further strengthen ties. PM Mahlab expressed his appreciation for Singapore's offer to share the Republic's development experience, MFA added.

Mr Masagos also met Minister of Foreign Affairs Sameh Shoukry, who briefed him on the latest developments in the region including the threat posed by terrorism, as well as Minister of Investment Ashraf Salman, Minister of Supply and Internal Trade Khaled Hanafy, and Suez Canal Authority Chairman Mohab Mamish.

Their discussions focused on ways to deepen bilateral cooperation in various sectors, including logistics, trade, supply chain management, and port development, MFA said.