Egypt engages private sector in airports’ management, operation

Egyptian Prime Minister Mostafa Madbouly says the government is willing to engage private entities in the management and operation of Egyptian airports.

The Egyptian cabinet announced this in a statement on Thursday.

Madbouly said the cabinet approved a deal with the International Finance Corporation (IFC), a member of the World Bank Group.

IFC, the largest global development institution, focuses on the private sector in emerging markets.

It offers the management and operation of Egyptian airports to the private sector, according to the statement.

On Wednesday, Madbouly discussed with a group of investors and businessmen the role of the private sector through partnership or alliance with the government.

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This is to promote the civil aviation field by contributing to establishing airline companies and enlarging the country’s air fleet, according to a previous statement issued by the cabinet.

During the discussion, Madbouly predicted that Egypt would receive 15.5 million tourists this 2024.

It also targets to receive 18 million tourists in 2025, the statement showed.

In July, Egypt mapped out a plan to increase its airports’ capacity to 72.2 million passengers by 2025, and 109.2 million by 2030, compared to 66.2 million in 2023. (Xinhua)