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Egypt’s Mega Projects Present ‘Great Opportunity’ For Foreign Investors – President al-Sisi

Combined cycle energy plant in Egypt.
Photo courtesy: INP.com

 

Egyptian President Abdel Fattah al-Sisi said on Tuesday the size of the ongoing national megaprojects is a “great opportunity” and a “promising market” for foreign companies to invest in the various developmental domains.

Sisi’s remarks were made during a meeting with Rodolphe Saade, CEO and Chairman of the CMA CGM Group’s Board of Directors, along with a number of the company’s officials.

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The meeting, which was also attended by Prime Minister Moustafa Madbouli and Transport Minister Kamel al-Wazir, had addressed cooperation with the French company to operate the multi-purpose terminal in Alexandria Port, Presidential Spokesperson Bassam Radi said in a statement.

The Egyptian president directed to boost cooperation with CMA CGM Group to develop Alexandria port administration and promote the port’s activities at the regional and international levels.

This will be by applying international standards in port operation process and with the aim of reaching record rates in loading and unloading in a way that will help raise the global classification of the Egyptian ports, Radi added.

Meanwhile, the statement said Rodolphe Saade had lauded the business climate in Egypt, referring to CMA CGM Group’s plans to cooperate with the Egyptian side in managing ports. The French company also looks forward to expanding its scope of work to include operating logistics areas and additional terminals in other ports beside the Alexandria Port, Saade added.

The statement also quoted Saade as saying that CMA CGM Group plans to establish a technology training centre to qualify young people to work in the maritime transport and logistics sector, as part of its interest in raising the capabilities of Egyptian cadres.

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Written by PH

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