The Maritime Sector of the Egyptian Ministry of Transportation signed a Memorandum of Understanding (MoU) with the Port of Singapore Authority (PSA) as Singapore will operate and develop the Egyptian maritime ports, reports the Cairo Post.
President Abdel Fattah El-Sisi received on Tuesday president of the PSA Tan Chong Meng in the presence of Suez Canal Authority Chairman Mohab Mamish and Minister of Transport Saad Al-Goyoushi.
Presidential spokesman Alaa Youssef said the PSA chairman visit is part of President Sisi's follow-up of the outcome of his visit to Singapore in September.
Meng expressed his country's readiness to cooperate with Egypt in the field of running and operating ports as well as work in the development of Suez Canal projects.
For his part, Mamish explained the outcome of contacts with the Singaporean side on joint development projects.
The Memorandum of Understanding on joint cooperation was signed on Tuesday between Egypt's maritime transport sector and the PSA in the presence of Goyoushi and Meng.
“President El Sisi lauded Singapore’s experience in economic and social development, underscoring his admiration for the level of progress that Singapore has achieved in the areas of the development, management and operation of seaports,” said Egyptian presidential spokesperson Alaa Youssef in a statement Tuesday.