RIYADH: Egypt plans to offer Hurghada International Airport to the private sector by the end of 2025 as part of a broader strategy to modernize its aviation sector and attract foreign investment, President Abdel Fattah El-Sisi said.  

The announcement came during a meeting in Al-Alamein City with Minister of Civil Aviation Sameh El-Hefny and EgyptAir In-Flight Services Chairperson Soheir Abdullah, where El-Sisi reviewed the national roadmap for enhancing civil aviation infrastructure and operations. 

The move forms part of a national strategy designed in partnership with the International Finance Corp., which is advising on a new public-private participation model for the country’s airports. The framework is expected to be finalized by summer 2025 and will target 11 major airports while maintaining public ownership. 

In an official post, Ambassador Mohamed El-Shenawy, spokesman for the presidency, said the meeting reviewed the comprehensive strategic vision for the advancement of the entire civil aviation sector, including air navigation, aircraft fleet development, airport upgrades, and enhancement of human resource capabilities. 

“These efforts are part of the state’s broader plan to improve the efficiency of the aviation sector, increase its capacity, and enhance the quality of services provided to travelers, in support of the national goal to raise the number of tourists to 30 million,” the post added. 

El-Sisi issued directives to proceed with developing Egyptian airports through international partnerships centered on efficiency and sustainability, while ensuring an attractive investment environment that guarantees economic feasibility and long-term growth. 

The plan supports Egypt Vision 2030, the country’s national development blueprint, which includes transforming airports into regional aviation hubs equipped with the latest global systems.  

El-Sisi also reviewed the “New Republic Air Gateway” project at Terminal 4 of Cairo International Airport. Once completed, the new terminal will increase the airport’s capacity by at least 30 million passengers, pushing total throughput beyond 60 million annually.

The project is designed in line with international standards for safety, security, and environmental sustainability. 

The meeting also touched on Egypt’s achievements in air navigation, especially during recent regional airspace closures that increased daily traffic to over 1,600 flights. 

According to the presidential spokesman, organizations including Eurocontrol, the International Civil Aviation Organization, and the International Air Transport Association praised Egypt’s air traffic controllers for maintaining operational stability and service continuity. 

Additionally, the meeting highlighted EgyptAir’s recent successes. The national carrier was named “Best Airline Staff in Africa” for 2025 by Skytrax at the Paris Air Show. 

Other accolades included Best Economy Class Meals, Most Improved Airline in Africa for a second consecutive year, and Best Cabin Crew in Africa. 

The airline advanced 20 positions in the global ranking to 68th place out of more than 325 carriers. 

The minister said EgyptAir plans to expand its fleet to 97 aircraft by 2028-29. Efforts are also underway to upgrade in-flight services, infrastructure, and ground operations, as well as enhance lounge amenities and punctuality. 

These initiatives are aimed at strengthening the airline’s global competitiveness and overall passenger experience. 

RIYADH: Saudi Arabia attracted SR22.2 billion ($5.9 billion) in net foreign direct investment in the first quarter of 2025, up 44 percent year on year, driven by rising inflows and sharply lower capital outflows. 

According to figures released by the General Authority for Statistics, this compares to SR15.5 billion during the same period last year. The figure, however, marked a 7 percent drop from the final quarter of 2024, when inflows totaled SR24.0 billion. 

Gross inflows — the total foreign capital entering the Kingdom — stood at SR24 billion, up 24 percent from SR19.4 billion in the first quarter of 2024, but down 6 percent from the SR25.6 billion recorded in the preceding quarter.

Net FDI reflects the actual retained investment after subtracting outflows such as dividends, loan repayments, or capital exits — making it a more accurate indicator of lasting foreign capital in the economy. 

The FDI boost coincides with Saudi Arabia’s growing appeal among global investors. In April, the Kingdom climbed to a record 13th place in Kearney’s 2025 Foreign Direct Investment Confidence Index while maintaining its rank as the third most attractive emerging market, underscoring strong investor confidence. 

In its latest release, GASTAT stated: “The volume of outflows amounted to about SAR 1.8 billion during Q1 of 2025. It achieved a decrease of 54% compared to Q1 of 2024, where the volume of outflows reached SAR 3.9 billion.” 

The report noted that this represented a 7 percent increase from the fourth quarter of 2024, when outflows stood at SR1.7 billion. 

The narrowing gap between inbound and outbound foreign capital underscores the resilience of the Kingdom’s investment environment amid ongoing economic transformation efforts. 

It also reflects a growing trend of multinational companies establishing regional headquarters in the Kingdom. Under new localization rules linked to government contracts, several global firms have set up or expanded their presence in Riyadh. 

In March, Dell Technologies became one of the latest tech giants to open a regional office in the Saudi capital, joining companies such as PepsiCo, Schneider Electric, Morgan Stanley, PwC, and Deloitte — all of which have ramped up operations to tap into the Kingdom’s rapidly evolving market and $1.1 trillion giga-project pipeline. 

The Kingdom’s performance comes against a backdrop of global declines in foreign direct investment.  

According to the UN Conference on Trade and Development, inward FDI inflows in Saudi Arabia fell 31 percent in 2024 to $15.73 billion, while outflows rose 27.1 percent to $22.04 billion.  

The report attributed the downturn to persistent trade tensions, geopolitical uncertainty, and weakening investor sentiment worldwide.  

Earlier this month, S&P Global said it expects FDI into Gulf Cooperation Council countries to slow further in 2025, citing lower oil prices and a more gradual rollout of economic diversification plans across the region.