Process to Privatise Egyptian Airports Officially Begins
This announcement marks the first step in transitioning all of Egypt’s ports from the public to the private sector.
A Cabinet statement announced that the executive process for opening the management and operations of Egyptian airports to the private sector has officially begun. This measure hopes to improve the quality of service provided by the airports, in addition to increasing international competitiveness and revenue generated by the aviation industry.
This news comes months after Prime Minister Madbouly’s November announcement that Egypt’s seaports, dry ports, and airports would be privatised in the near future. This recent announcement marks the beginning of the transition of these critical transportation entities into the private sector.
The Ministry of Transport, in collaboration with several global corporations, has formulated a strategy for this transition, which will begin with issuing an international tender for operating the airports. This privatisation effort will include all of the country’s airports, including Cairo International Airport, the busiest travel hub in Africa.
This attempt to integrate the private sector into Egypt’s public services is not happening in isolation. In July 2023, Egypt received USD 533.7 million from the European Bank for Reconstruction and Development. The purpose of this package is to support massive privatisation and restructuring measures for the public sector of Egypt’s economy, with a particular focus on small and medium enterprises. In that same month, Egypt sold five state-owned companies into the private sector, including their stakes in seven historic hotels and Egypt’s largest steel producer.
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Apr 23, 2024 -
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