Egypt’s Minister of Industry and Transport Kamel El-Wazir held talks with the CEO of MSC International Group, Soren Toft, to explore prospects for bolstering co-operation between Egypt and the global shipping giant in transport and logistics.
This partnership seeks to foster joint ventures and attract fresh investments into the Egyptian market, aligning with Egypt’s Vision 2030.
Minister El-Wazir praised MSC International for its notable contributions to Egypt’s transport and logistics sector. Expressing optimism, he underscored Egypt’s favorable investment climate, which offers abundant opportunities in transportation, dry ports, and logistics development, making it an ideal setting for cultivating international partnerships.
For his part, Toft voiced his enthusiasm for the collaboration with Egypt’s Ministry of Transport, acknowledging the country’s impressive strides across various sectors, particularly in transport and logistics. He reaffirmed MSC’s dedication to expanding co-operation and investing further in these areas.
The discussions included the signing of a memorandum of understanding (MoU) between the Holding Company for Maritime and Land Transport, under the Ministry of Transport, and MSC Mediterranean Shipping Company SA. This agreement establishes a strategic partnership to explore opportunities in the management and operation of Egyptian seaports, dry ports, rail freight shipping, and logistics zones.
During the signing ceremony, minister El-Wazir said the new partnership underscores Egypt’s initiative to capitalize on its unique geographic position, transforming the nation into a key regional hub for transport, logistics, and transit trade.
He outlined the ministry’s integrated strategy to modernize transport infrastructure, aiming to upgrade ports, lower trade costs, and support sustainable economic growth.
“The objective is not merely to construct state-of-the-art ports but to establish a holistic system that positions Egypt as a leading global player in maritime transport and logistics,” El-Wazir said.
“Such ambitions necessitate partnerships with internationally renowned firms like MSC to deliver services that meet world-class standards.”
The minister further noted that MSC subsidiaries will undertake studies to assess opportunities for managing and operating major projects, with a focus on enhancing the competitiveness of Egyptian ports both regionally and globally.
Toft reiterated the company’s commitment to supporting Egypt’s development in the maritime and logistics sectors. “Egypt boasts exceptional assets that position it as a significant player in global trade,” Toft said.
“By working together, we aim to achieve ambitious objectives that will boost the operational capacity of Egyptian ports and attract greater foreign investment,” he added.
Source: The Egyptian Gazette
