Egypt Tries to Woe Boodai Kuwait Company to Invest More in Airport Development

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Boodai Group, known for owning Jazeera Airways in Egypt, is exploring further opportunities to expand its footprint in the region

During his ongoing visit to Kuwait, Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, met with a delegation from Boodai Kuwait Company to discuss potential investment opportunities in Egypt’s airport development sector.

Boodai Group, known for owning Jazeera Airways in Egypt, is exploring further opportunities to expand its footprint in the region. The meeting, which highlighted the growing interest in Egypt’s infrastructure, centered on the company’s investment plans within the country’s airport sector.

El-Khatib stressed that the government is working to foster a more competitive and attractive investment environment, particularly in key sectors such as airport development. He noted that a study, currently underway in collaboration with the International Finance Corporation (IFC), will soon be released, offering a comprehensive overview of Egypt’s airport sector and its potential for future development.

Boodai’s existing involvement in Egypt’s airport sector was also discussed, with the company currently operating in seven Egyptian airports. The company plans to expand to nine airports, including the addition of Al-Alamein and Hurghada airports. This expansion is seen as a significant step in bolstering Egypt’s infrastructure and improving the nation’s connectivity.

The minister highlighted the government’s ongoing efforts to streamline the investment process, including further financial and procedural reforms. These reforms aim to simplify business practices, reduce the time for customs clearance, and reduce the number of entities involved in investor transactions, all of which will support the growth of foreign investment in Egypt.

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Egyptian authorities announced last year that it was looking into engaging the private sector in the development, management, and operation of its airports. These airports include Cairo International, Sphinx International, El Alamein International, Sharm El Sheikh International, and Hurghada International.