The Egyptian Cabinet has approved the draft presidential decree on cooperation between the government of the Arab Republic of Egypt and the government of the Sultanate of Oman in the field of maritime transport and ports.
The agreement, signed during President Abdel Fattah el-Sisi’s visit to Oman in 2024, aims to develop economic and commercial relations between the two countries. Its aim is to control and manage maritime activities, solve problems for the development of the maritime industry, and support transportation and multimodal transport.
The agreement also focuses on cooperation in port management, operations, and ship maintenance and repair, as well as the exchange of expertise and information.
Among other decisions, the Council of Ministers also approved the presidential decree amending some provisions of Presidential Decree No. 1654.86 of 2021.
The amendments include amendments to Articles 11(2) and (3) of the Employment Law. The amended paragraph (2) states that no tourism or recreational centre shall be built on the banks of the Nile without the permission of the Ministry of Water Resources and Irrigation.
Only buildings that can be easily demolished shall be permitted and the occupants shall not exceed 40% of the total area of the site. The terminal may accommodate up to 10% additional passengers under certain conditions.
The amendment to paragraph (3) requires previously licensed marina, tourism centre or recreational facility owners to comply with the new principles when renewing their license law. It is reduced to a maximum of 40% for demountable structures, while 10% is allowed for docks.
In addition, the Government approved the allocation of land and the extension of the lease term to the French company Alstom for the construction of a railway station in Alexandria Borg Arabia. The lease term was extended from 15 to 30 years under the Commercial Law No. 6500. 72 of 2017 and its regulations.
The decision refers to the scale of investment that Alstom plans to invest in the project, which will include two factories on 40 fedans of land and an additional 50 fedans for future expansion. In the first phase, the factory site will be built in 13 fedans, while in the second phase, the car factory will be built in 27 fedans.
