PM Discusses Yacht Tourism in Egypt with Italy’s Navigo

An action plan to market Egypt as a prestigious yacht tourism destination was presented by the Italian Navigo group on Monday, which Prime Minister Mostafa Madbouly examined.

Madbouly and the Italian delegation's members talked about strategies for promoting yacht tourism in both the Red Sea and the Mediterranean Sea, as well as the anticipated financial benefits.

The strategy is built on improving the effectiveness of yachts and the facilities that maintain them in order to take advantage of Egypt's unique strategic geographic location, they added.

At the conclusion of the meeting, it was decided to draught a memorandum of understanding (MoU) outlining the proposed cooperation with the Italian firm in anticipation of signing a contract to launch the promotion of yacht tourism right away.

In order to improve the country's foreign exchange reserves, the meeting, according to Madbouly, aims to develop an action plan to establish Egypt as a prestigious yacht tourist destination.

Ahmed Khaled, the Commander of the Strategic Command and the Military Industrialization Supervisor, as well as Hisham Talaat Mostafa, the CEO and Managing Director of the Talaat Mostafa Group, were present at the meeting.

From August 2021, a national strategy has been in place to improve the performance of current ports and marinas and build new ones in strategic locations for tourists.