Egypt plans to invest over $4bn in its ports

Egypt plans to invest over $4bn in its ports

Egypt plans to invest over $4bn in its ports in order to become an international hub for transport and logistics, according to reports.

The transport minister Hisham Arafat was reported as stating that the country’s logistics development plan would be carried out in collaboration with the transport ministry and the General Authority for Suez Canal Economic Zone.

Member of Parliament Hesham Abd ElWahed, Head of Parliament Communication Committee said that maritime transport and its Egyptian ports have developed where MTS is considered one of the most important promising sectors of Transport ministry and one of Egyptian national economy.

This was debated during the transportation committee meeting headed by Abd ElWahed, in which many issues were discussed. First of which is the need for setting a specific future strategic vision for Egyptian maritime ports’ development; supporting national economy in the attendance of transport minister.

Abd ElWahed said that the state has directed several times and is keen on the necessity of setting a modern strategy to benefit from all Egyptian ports, supporting regional and international competitiveness, not just collecting traffic dues but also establishing integrated logistic regions; multiple increased to cope with Egyptian ports economic revenues.

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27th February 2019


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