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Sunday, 12 July 2020

Egypt offers incentives to encourage investments in maritime sector: Transport minister

Doaa A.Moneim , Wednesday 23 Oct 2019
Kamel El-Wazir
A file photo of Egypt's Minister of Transport Kamel El-Wazir (Photo:Al-Ahram)
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Egypt’s Minister of Transport Kamel El-Wazir said the ministry had undertaken a series of measures to attract more investments to the Egyptian maritime sector and encourage more international shipping lines to work with Egypt's ports.
 
The procedures include a set of incentives and reductions up to 45 percent on port fees to reduce the bills of services rendered to vessels that reach Egypt's ports and cross the Suez Canal.
 
El-Wazir was speaking at the second Egyptian-Italian Dialogue on Maritime Transport and Logistics, which kicked off on Tuesday.
 
The minister said the government wanted to upgrade maritime transport, a vital sector for the country's economic development, pointing out that a comprehensive strategy to develop ports and increase their competitiveness was drafted to convert Egypt into an international hub for energy, trade, and logistics on the regional, African and global levels.
 
At the closing speech, El-Wazir noted that the Egyptian-Italian Dialogue was an active model of bilateral cooperation and a tool to exchange experiences and open new horizons between experts, businessmen and investors interested in the field.
 
In reference to the workshops convened at the event, El-Wazir said, "we are keen on this partnership and are looking forward to move to a higher level of cooperation on initiatives and projects."
 
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