President Abdel Fattah El Sisi has directed to speed up finalizing licenses for tourist yachts in one day instead of 72 hours, Transport Minister Kamel El Wazir said on Tuesday 10/5/2022.

Speaking to Ahmed Moussa’s talk program aired on Sada Al Balad TV channel on Tuesday night, Wazir stressed that the state works on attracting investors and marine transport companies to invest in Egypt to have more than 150 Egyptian boats to carry imports and exports.

The president also directed to coordinate with the Suez Canal Authority and the Armed Forces to develop and upgrade ports in Alexandria and Suez.

The minister also lauded steps taken by the state to attract investments as evidenced by an agreement signed earlier Tuesday between the Damietta Port Authority (DPA) and Damietta Alliance Container Terminal which consists of three core shareholders; Germany’s Eurogate, Contship Italia and Hapag-Lloyd to build and develop the superstructure of the Second Container Terminal “Tahya Misr 1” in Damietta port.

The agreement, signed in the presence of Prime Minister Mostafa Madbouli and el Wazir, also includes using, managing and operating the Second Container Terminal “Tahya Misr 1” in addition to conducting maintenance works there.

El Wazir said it is time now to allow to the private sector to carry out projects to help attract investments in the local markets.

Sisi also directed to change Egypt into a hub for ports and logistic services.

Plans have been developed to upgrade marine transport, including the development of ports nationwide, particularly in Alexandria and Safaga, the minister added.

Source: State Information Service Egypt