The PM emphasized the importance of maximizing transit trade in Egypt, capitalizing on the nation's current ports and strategic positioning
Egypt’s Ain Sokhna and Al Adabiya ports recorded significant activity during the final quarter of FY2022/2023, revealed new data by the Suez Canal Economic Zone (SCZone)
Direct foreign investments in the project to develop the ports of Sokhna and Dekheila are estimated at $1.6 billion, while direct revenues are expected at $5 billion, according to Minister of Transport Kamel Al-Wazir.
Saad noted that those goods are waiting for customs releases to go out to the market.
A network of dry ports and logistic zones are being established, amounting to 15 dry ports and a logistic zone linked to the sea ports, besides multiple means of transport to increase circulation in the ports and increase the volume commerce.
Prime Minister Mustafa Madbouli held a meeting Sunday to discuss procedures to facilitate the release of goods at ports, especially after ending the accumulation of goods, according to a statement.
The Spokesman stated that the meeting witnessed a discussion of some proposals and mechanisms that would speed up the completion of procedures and the exit of containers at the ports.
Egypt’s cabinet spokesperson Nader Saad said in statements Wednesday that ports currently have a total worth of $2.3 billion goods.
The release of all production requirements is expected to be completed at the end of this week, provided that the release of all goods and merchandise stored in ports will be completed by the beginning of the new year.
The first MoU was signed by Abdel Qader Darwish, Chairman of the Egyptian Group for Multi-Purpose Terminals, and Saif Al Mazrouei, Head of the Transport Sector at Abu Dhabi Ports Group.
The RSPA said in a statement Friday that the volume of exports reached 371 tons of goods, 202 trucks and eight cars.
The total trade volume of imported goods was 26,528 tons.
The two ports were closed on Wednesday due to bad weather conditions prompted by strong winds and high waves, said Ahmed Breqaa, the authority spokesman.
The linkage will simplify procedures, facilitate internal and external trade movement, and improve Egypt's ranking in three important international indicators: “global competitiveness, doing business, and the macroeconomic environment”
If the owners failed to re-export these items, they will have to bear the disposal costs, the minister added.
President Abdel Fatah al-Sisi headed on Wednesday to Beijing to attend the Belt and Road Forum for International Cooperation (BRFIC).
Tense low clouds gather over the northern coastal cities and Cairo, with the possibility of rain falling.
Most of the areas of the Nile Delta governorate of Kafr el Sheikh have been hit by rainfall and low temperatures since Wednesday dawn.
Although will last until the last week, the heavy fog is expected to remarkably relent on Wednesday and Thursday, while on rainfall is forecast.
Egypt’s state grain buyer GASC set new tender terms in February to cap demurrage fees after major suppliers shunned state wheat tenders.