Russian Deputy Minister of Industry and Trade Roman
Chikushov announced that Moscow and Cairo have agreed to grant Russian
companies tax and customs incentives in the Russian Industrial Zone (RIZ) near
the Suez Canal for 49 years. He noted that an infrastructure rehabilitation
project will be implemented in Ain Sokhna on the Gulf of Suez.
Chikushov added that the recent visit to Egypt included a
large-scale trade mission with the participation of more than 30 Russian
companies. He said all terms for establishing production facilities in the
industrial zone were agreed upon with the Egyptian side, paving the way for new
Russian industrial investments that will strengthen Egypt’s position as a
regional hub for manufacturing and logistics.