Egypt’s Prime Minister discusses increasing competitiveness of Egyptian ports

Egypt’s Prime Minister Mostafa Madbouli held a meeting on Sunday to discuss increasing competitiveness of Egyptian ports and attracting major shipping agencies and companies working in the field of logistics.

Madbouli clarified that the government injected investments for developing and improving the performance of Egyptian ports such as the East Port Said.

He added that the Egyptian ports would provide incentives to logistics companies such as deductions on shipment fees aiming to increase the competitiveness of Egyptian ports against foreign ports in the Mediterranean Sea.

Madbouli said that the government reduced the insurance fees from LE10,000 to LE5,000, the license fees from LE3,000 to LE1,000 and the shipping services fees by 50 percent.

Madbouli asked to form a committee including the ministries of finance, transportation and the Suez Canal Authority to study suggestions for developing maritime transport and drafting a unified law in June for maritime transport.

Edited translation from Al-Masry Al-Youm

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