MSC Group partners with Egypt to boost local transport and logistics sectors
GENEVA : Minister of Industry and Transport Kamel El-Wazir and shipping solutions provider MSC Group CEO Soren Toft signed a Memorandum of Understanding (MoU) to deepen cooperation in the management and operation of seaports, dry ports, railway freight facilities, and logistics zones, per a statement on Tuesday.
This collaboration is a key part of Egypt’s broader strategy to strengthen its position as a global transport hub. The agreement follows President Abdel Fattah El-Sisi’s directives to improve the efficiency of Egypt’s ports and make the country a central player in international trade and logistics.
In addition to transport improvements, the Egyptian government rolled out multiple initiatives to boost industrial output. In December, El-Wazir and Finance Minister Ahmed Kouchouk announced that EGP 30 billion would be allocated to fund the first phase of a new initiative to support seven priority industrial sectors, including pharmaceuticals, food industries, and engineering, in addition to urging private sector participation and enhancing domestic value-added production.
El-Wazir highlighted Egypt’s steady progress in developing its transport infrastructure, emphasizing that the integration of different transport modes is crucial to reducing trade costs and achieving sustainable economic growth.
MSC Group, a global shipping giant, will assist in increasing the competitive capacity of Egyptian ports, facilitate a more efficient supply chain, and attract global companies to invest in Egypt, leveraging its strategic geographical location and the ongoing modernization of its transport and logistics infrastructure.
For his part, Toft confirmed that the group looks forward to supporting the transport ministry’s efforts to develop the maritime transport system, adding that Egypt has unique capabilities that qualify it to be a key player in global trade.
“We are proud to sign this agreement with the Holding Company for Maritime and Land Transport, and we look forward to working together to achieve ambitious goals that contribute to enhancing the efficiency of Egyptian ports and attracting more foreign investments,” Toft said.
The signing was witnessed by key officials including Amr Mostafa, Executive Managing Director of the Holding Company for Maritime and Land Transport, and several other high-ranking officials from both MSC Group and the transport ministry.
Behind Egypt’s strategic investments in infrastructure development
This partnership is the latest step in Egypt’s ongoing efforts to overhaul its industrial and transport sectors. The country has prioritized infrastructure projects in line with its Vision 2030 to enhance economic competitiveness and sustainability.
Egypt has already invested heavily in port developments like the Tahya Misr 2 multipurpose terminal in Dekheila Port and continues to expand dry ports and logistics zones, such as the new facility in the 10th of Ramadan City.