Singaporean businessmen are willing to increase investments in Egypt, especially in Suez Canal, the Investment Ministry said in a statement on Wednesday.

At a meeting with Investment Minister Dalia Khorshid, Singaporean Ambassador here Premjith Sadasivan lauded measures taken by the political leadership in Egypt to lure more investments, saying Egypt has all potentials to be an investment-magnet state, the statement said.

Talks also covered preparations for Singaporean President Tony Tan's visit to Egypt to take place later this month. Tan will be accompanied by three ministers along with several lawmakers as well as more than 16 investors operating in the infrastructure, water, energy, services and housing domains.

A workshop grouping the Egyptian Businessmen Association and the Singaporean investors will be held during the visit to expound available investment opportunities in Egypt. 

During the visit, the Singaporean president will attend the graduation of a new batch of Singaporean students who have been studying at Al Azhar.

Source: MENA