Strategy on Development of shipbuilding and repair in Egypt (November 2009)
Entity conducting the study:
I Maritime Investment Company.
Objective of the Study:
Develop a vision, strategy and action plan for shipbuilding and repair sector in Egypt.
1- Although God granted Egypt a distinguished geographical location, in addition to its sovereignty on Suez Canal, it has not yet been able to reap the full benefits in this sector.
2- Egypt’s share of the global shipbuilding industry is very small, estimated at about 0.07%, equivalent to $70 million.
3- Problems faced by Egypt in this context include:
– The current administrative system necessitates the approval of the General Committee making it a highly sophisticated procedure and time-consuming.
– Difficulty to secure necessary finance.
Improvements should be made in arsenals in order to enhance their efficiency and operation through the application of modern technological methods and the use of modern equipment in order to support ship building and repair so as to achieve increase in income.
- Regard the sector as a strategic industry.
- Develop a policy to promote the sector.
- Establish a central council with broad authority and enable it to take all steps related to the implementation of political framework.
- Rationalize tax and customs system
- Coordinate between security and tax procedures to avoid delay factors.