Egypt initiates airport privatisation process for enhanced services, revenue
The Egyptian government has initiated executive steps to transfer the management and operation of its airports to the private sector.
A move by the North African nation to upgrade its civil aviation industry to boost its competitiveness on both regional and international levels.
This comes after a meeting on March 3 under the leadership of Egyptian Prime Minister Mostafa Madbouly to review the executive procedures proposed by the Ministry of Civil Aviation.
The official spokesperson for the Prime Minister's Office, Mohamed El-Homsani, revealed that the meeting deliberated on several aspects of the execution of the strategy for the advancement of Egyptian airports, Daily News Egypt reports.
The meeting deliberated on a tentative schedule for the outsourcing procedure. The initial phase involves releasing a tender to choose the international consultant. This consultant is then expected to present a detailed plan for the outsourcing process within six months. The completion of the bidding process is anticipated to take place within a year, he added.
The participation of the private sector in running and managing Egyptian airports could lead to enhanced passenger services and a rise in revenue, He further mentioned.
In November 2023, Prime Minister Madbouly met in Cairo with over 20 international firms in the transport, logistics, and shipping sectors, local media Ahram Online reported.
The European Bank for Reconstruction and Development in July 2023, extended a support of $533.7 million to Egypt, according to Arab News. This funding is aimed at strengthening the private sector and boosting small and medium enterprises, as the country embarks on extensive privatisation and overhauls its public sector.
