Prime Minister Mostafa Madbouli reviewed Monday proposals related to promoting yacht tourism in Egypt.

This came during a meeting held in the presence of the Commander of the Strategic Command and Military Industrialization Supervisor and CEO and Managing Director of Talaat Moustafa Group Hisham Talaat Moustafa.

The meeting also saw the participation of the director general of Navigo, which is a consulting company specialized in yachting.

The meeting comes as part of efforts to draw up an action plan to position Egypt as a distinguished yacht tourism destination, a matter which will contribute to increasing foreign currency resources, said Madbouli.

Meanwhile, representatives of the Italian Navigo group reviewed the proposed action plan, which copes with Egypt’s Vision 2030.

They also reviewed plans to promote yacht tourism in both the Mediterranean Sea and the Red Sea, as well as the expected revenues from this type of tourism.

The plan is based on leveraging Egypt’s unique strategic geographical location through raising the efficiency of yachts and their maintenance centers, they added.

At the end of the meeting, an agreement was reached on formulating a memorandum of understanding (MoU) that includes aspects of proposed cooperation with the Italian group in preparation for signing an agreement to immediately start implementing the necessary steps to promote yacht tourism.

Source: State Information Service Egypt