The Egyptian government aims to attract foreign and local investments worth $30 billion to the Suez Canal Economic Zone (SCZone) over the next five years, said an Egyptian ministry official.

The ministry is cooperating with the SCZone in order to attract these investments in sectors of infrastructure and utilities, thus providing about one million direct and indirect jobs, Sahar Nasr, Minister of Investment and International Cooperation, was quoted as saying in a Daily News Egypt report.

The minister was speaking at a session at the Youth Conference held in Alexandria, in the presence of President Abdel Fattah Al-Sisi.

The minister said she will visit Singapore in August, together with Mohab Mamish, head of the SCZone, to promote the region’s most important investment opportunities.