Egypt 'will never sell its ports' but aims to develop them thru private partnerships: Transport minister

Ahram Online , Thursday 27 Oct 2022

Minister of Transport Kamel El-Wazir said on Wednesday that "Egypt will never sell its ports," but "aims to develop them through establishing partnerships with the private sector and international operators in the field of management and operation."

main

 

El-Wazir's remarks came during a symposium entitled Egypt: A Logistical Hub held as part of the 50th anniversary celebrations of the establishment of Egypt-UAE relations.

His statements echoed remarks made earlier by Prime Minister Mostafa Madbouly who stressed that the government's announced plan to exit from some economic sectors over the coming three years - according to the recently-approved State Ownership Policy Document - does not mean that it will sell its assets but will rather seek more cooperation with the private sector.

According to Madbouly, the exit plan includes listing assets on the Egyptian Exchange for citizens to trade in stocks as well as granting the rights to management and operation to the private sector.

Minister El-Wazir said Egypt plans to become an international commercial and logistics hub.

He said the government is developing its 18 commercial ports and building new ones to take advantage of 3,000 kilometres of coastline. 

El-Wazir added that the government plans to establish a network of dry ports and logistics areas that will be linked to seaports through multiple means of transportation.

This plan aims to boost commercial activities in the ports and increase the volume of trade.

On this note, the minister invited the business community to invest in Egyptian ports such as Sokhna, Port Tawfiq, Al-Adabiya, Alexandria and Gargoub.

He cited the construction of the dry port in the 6 of October City as a successful model for in partnership between local and foreign busniess partners.

He added that more dry ports and logistics hubs will be presented to investors in New Sohag, New Damietta, Alexandria, and Sokhna.

Short link: