Regulatory Alerts2017-12-28
A circular dated December 28, 2017 regarding extending the work period for the tourism sector support initiative and the retail loans initiative for workers in the tourism sector until the end of 2018.
Cairo, on December 28, 2017: The head of the Egyptian Red Sea Governorates' Union and the President of the Red Sea Governorates' Chamber of Commerce, Rashad Abdel Hafez, announced on December 23, 2016, the start of the first phase of the SSI (Safe Sailing Initiative) campaign for one year period, ending in December 2018. The second phase will end by 2018 to allow those working in the tourism sector to benefit from the initiative, while the third phase will be extended by six months starting from September 30, 2017, following the agreement of the Ports Authority. Rashad Abdel Hafez also confirmed that the first phase aims at reducing accidents and fatalities on the Red Sea shores, which saw a significant decrease in accidents after the implementation of the initiative since December 24, 2005. He added that there are plans to extend the operation hours for some maritime ports until 7:00 am every day starting from July 1, 2015. The Governor of Red Sea province, Major General Ahmed Abdallah, praised the remarkable achievement in terms of reducing accidents and fatalities on the beaches after the implementation of the SSI initiative, which has been implemented since December 24, 2005 under the directive of former President Hosni Mubarak.