Egypt is one of the most important trade and logistics centers in the world

Engineer Kamel Al-Wazir, the Egyptian Minister of Transport, confirmed that the state’s plan to develop and raise the efficiency of ports aims to make Egypt one of the most important centers of trade and logistics in the world, stressing that the state does not and will not sell its ports, but it is expanding the partnership strategy with the national and foreign private sector to manage and operate opportunities. The promising investment in these ports, pointing out that many countries of the world resort to selling their ports, including the British experience, in which a Chinese company acquires its largest ports north of the British capital, London, which he visited last week.

He added that the Egyptian state is pursuing a different strategy in implementation of the directives of President Abdel Fattah El-Sisi in raising the efficiency of ports and in partnership with the national and foreign private sector for management and operation.

This came in his speech today, Tuesday, on the sidelines of the signing of a memorandum of understanding for the management and operation of Berth 85/3 in Alexandria Port between the Alexandria Port Authority and representatives of the private sector companies’ alliance, headed by Misr Holland Company for Stevedoring.

The Egyptian Minister of Transport said that the memorandum of understanding is a prelude to agreeing on the final version of the terms and conditions agreement, most of whose provisions were previously agreed upon, and will be completed within days, indicating that it is expected that the final contract will be concluded after it is presented to the Council of Ministers and the House of Representatives to enter It will come into force next February.

He explained that the berth 3/85, subject of the agreement, was previously inaugurated by President El-Sisi after its development in October 2021, and the trial operation phase of the berth began until it recently started its full operation.

The Minister reviewed the promising opportunities that Alexandria Port includes in terms of logistics and linking it to land, sea and rail transport networks, recently joined by the opening of the Abu Zekry axis, which President Sisi witnessed, stressing that the growth of these opportunities is reflected in the volume of demand from the private sector to obtain partnerships to benefit from the capabilities of the port.

He pointed out that the Egyptian ports witnessed during recent years a great boom and increased efficiency, to become the focus of attention of the national and foreign private sector, including the ports of Jarjoub, East Port Said, Safaga, Sokhna, Damietta and Dekheila, indicating that these opportunities are still increasing within the framework of the state’s plan to make Egypt one of the largest centers Trade and logistics in the world.

The signing of the memorandum of understanding was attended by the head of the maritime transport sector, Major General Reda Ismail, the head of the Alexandria Port Authority, Major General Nihad Shaheen, and the Chairman of the Board of Directors of Adsco Mohamed Ahmed Mohamed and Ferrera Rene Van Haweijk.

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