Egypt's parliament has approved a bill that paves the way for international investors to operate waterdromes and amphibious aircraft on the Nile River, according to local news reports.
The approval by the House of Assembly on October 26 followed a review and discussion of a report by the country's Transport Committee on the bill that aims to reorganise the General Authority for River Transport (GART) to streamline Egypt's river transport services and operations, which have been neglected for many years.
The House's Transport Committee chairman Alaa Abed said: "GART will be in charge of drawing up development plans for the establishment, operation, and management of Nile River ports and docks. Through a 'one-stop-shop-system' private investors (both local and foreign) will be able to get facilities from GART to set up companies to manage, operate, and maintain Nile boats, floating units, and cruise ships," he was quoted by Al-Ahram news.
"This sector should be a magnet for private investors and a major source of revenues to the state treasury in the coming stage," the report said. Past neglect had discouraged private investors meaning the sector had contributed little to the national economy, Abed said.
The bill is part of the government's efforts to restructure the national economy and make essential sectors, such as transportation, more attractive to private investments.
Under the proposed amendments to the 1956 law regulating the functions of GART, the authority will become the main regulator of river transport and inland navigation activities in Egypt. Under the current law, the Ministry of Irrigation and river units affiliated with provincial governorates are responsible for supervising inland navigation and Nile River waterways.
