Egyptian President al-Sisi holds talks with Singaporean investors

Egyptian President Abdel Fattah El Sisi received at his place of residence here on Monday Singaporean investors, businessmen and CEOs of leading companies working and wishing to work in the Egyptian market especially the development of the Suez Canal.

They discussed the facilities Egypt offers to foreign investors and promising investment opportunities especially now as Egypt embarks on several wide-scale national projects.

Egyptian Investment Minister Ashraf Salman and Suez Canal Authority Chief Mohab Mamish expounded during the get-together the investment opportunities in the Suez Canal axis and affirmed that the revenues of investment in Egypt would be high.

Egypt has relied on financial support from a range of Gulf states over the past three years, as its economy slumped in a period of political crises.

Saudi Arabia, Kuwait and the United Arab Emirates have been the biggest donors to the Egyptian government since the former Islamist president Mohamed Morsi was ousted in a coup in 2013.

Between them, the trio have provided $12bn (£7.4bn, £9.3bn) in financial assistance to post-Morsi administrations, in a bid to stifle support for the Muslim Brotherhood movement and boost the government led by the former head of the armed forces. The monarchies of the Gulf states believe the Brotherhood is a threat to their existence.
Source: MENA