RIYADH: Egypt began the executive process for offering the management and operation of Egyptian airports to the private sector, a Cabinet statement said on Monday.
Egypt is due to set an international tender for operating Egyptian airports, which include Cairo International Airport, the country’s Civil Aviation Minister Mohamed Abbas Helmy has said.
Egypt is set to transition the management and operations of critical logistics and transportation entities to the private sector, starting with the aviation industry.
In November 2023, Egyptian Prime Minister Mostafa Madbouly declared that seaports, dry ports and airports would be offered to private sector management in the near future.
Madbouly highlighted a strong commitment to fostering partnerships with private entities in the stewardship and operational aspects of mass transit systems.
An integrated strategy has been formulated by the Egyptian Transport Ministry, in collaboration with global corporations, to begin localization of the industry.
In July 2023, Egypt’s efforts to bolster its private sector and empower small and medium enterprises received $533.7 million in support from the European Bank for Reconstruction and Development as it undertakes massive privatization and restructuring measures for the public sector.
Under the umbrella of Egypt 2022-2027 strategy, launched by the Minister of International Cooperation Rania Al-Mashat in March 2022, the EBRD approved development financing worth $400 million for the National Bank of Egypt to support SMEs, focusing on regional companies led or owned by young entrepreneurs.
The bank also approved funding worth $100 million for Banque Misr to improve financing for SMEs in a way that promotes inclusive and sustainable growth. In addition, it aims to increase funding to SMEs in areas with limited access to financial services.
The EBRD also approved another funding for the Mediterrania Capital IV Fund at a value of €30.2 million ($33.7 million).
