Trade relations between Egypt and Singapore extend back many years, and in this context, the Ministry of Communications recently discussed enhancing cooperation between the two countries in the fields of outsourcing, digital capacity building, and technological innovation.
The two sides seek to support cooperation in a number of areas of communications and information technology, especially those related to technical training and supporting small and medium technology companies through networking and establishing partnerships between specialized entities in both countries in these areas.
This includes opening avenues of cooperation between Egypt’s digital innovation centres and specialised centres in the fields of innovation and digital skills development in Singapore, as well as between the Information Technology Industry Development Agency and its counterpart in Singapore to cooperate in the field of supporting entrepreneurship.
Singaporean investments in Egypt
The volume of Singaporean investments in Egypt reaches 1 billion dollars, and Singapore is considered one of the largest Asian investors in the Egyptian market.
In contrast, the growth of Egypt’s exports of outsourcing services during the fiscal year 2022-2023 amounted to about 54.2%, and the total targeted Egyptian exports from outsourcing in 2026 amounted to about $9 billion.
