The Egyptian Prime Minister, Mostafa Madbouly, has announced that the government plans to hand over the first of its airports to a private company to manage and operate it before the end of this year. He made this disclosure during a meeting with Makhtar Diop, Managing Director of the International Finance Corporation (IFC), in Cairo.
Prime Minister Madbouly described this move as a big milestone for Egypt, adding that it will be the first time specialized international companies will be allowed to manage and operate the country’s airports. The move is meant to make airports more efficient, more profitable, and more able to handle growing passenger numbers in the future.
He explained that the IFC is acting as a strategic advisor to the Egyptian government on its privatization program. The IFC is helping the government prepare a framework to attract specialized companies from all over the world to take over the operations of certain airports.
This policy, Madbouly said, shows the government’s readiness to collaborate with the private sector to develop key infrastructure and improve service delivery. The Prime Minister explained that the IFC has a strong track record in helping governments implement airport privatization and attract experienced companies to manage their airports. “We hope we can soon unveil the details of this strategy and move forward with the process of choosing the best companies to take over these airports,” Madbouly said in a government statement.
Makhtar Diop, the Managing Director of IFC, supported this view and said the official announcement for the airport offering will be made soon. After this, a bidding process will follow to select a specialized private company to manage and operate Hurghada International Airport. Diop explained that this first airport was chosen because it plays a key role in Egypt’s tourism industry and is a main destination for tourists from all over the world.
He also said the IFC is excited to strengthen its cooperation with the Egyptian government across many sectors. Diop explained that the IFC is not just a financial institution; it also provides technical expertise and policy advice to help governments implement important projects.
He added that the IFC is particularly interested in supporting tourism in Egypt — a key industry for the country’s future growth. He explained that this covers all segments of tourism, including medical tourism, beach holidays, cultural tourism, wellness, and more. “We want to help Egypt grow its tourism industry by making sure its airports, hotels, and related services can handle the growing number of tourists who come to the country each year.”
The Prime Minister explained that this policy is meant to bring in expertise from specialized companies to operate airports more efficiently and improve services for tourists and businesses alike. The move is expected to raise revenue, cut waste, and make sure airports can cope with future passenger growth.
This first deal will serve as a trial, and if it is successful, the government may consider offering more airports to the private sector in the future. The government’s main aim is to make sure the country’s airports are well managed, profitable, and able to match international standards.
This policy comes at a time when many governments are turning to private companies to help them improve their airports. The Egyptian government is following this path in order to raise revenue and provide better service without putting a heavy financial burden on the state.
For now, all eyes are on Hurghada International Airport. Everyone is waiting to see which specialized private company will win the bid and take over its operations. The outcome of this first deal may set the tone for future transactions in the country’s airport sector.
