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Signing usufruct contract for Russian industrial zone in SCZone

Businessmen Team news 15 May 2025 08:40 PM
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Signing usufruct contract for Russian industrial zone in SCZone

Engineer Hassan El-Khatib, Minister of Investment and Foreign Trade, and Anton Alikhanov, Minister of Industry and Trade of Russia, witnessed the signing of the usufruct agreement for the Russian Industrial Zone in the Suez Canal Economic Zone(SCZone). This agreement represents one of the most important executive steps toward activating and operating the zone, which aims to attract Russian companies' investments in several important industrial and technological sectors.

El-Khatib stated that the Russian Industrial Zone in the SCZone will be an important platform for Russian industry in Egypt and Africa, noting the Egyptian government's commitment to providing all possible support to complete the procedures related to this vital project.

He called on the Russian business community to inject more investment into the Egyptian market, contributing to technology transfer, technical cooperation, and mutual benefit. He expressed his hope that Egypt will become a base for Russian investments in the Middle East and Africa.

El-Khatib added that Egypt looks forward to increasing Russian companies' investment in the Egyptian market, benefiting from the attractive investment climate and the distinguished incentive system offered by the Egyptian government to investors in various sectors. He noted that the investment climate in Egypt has witnessed numerous institutional reforms aimed at facilitating and simplifying procedures for investors, which has contributed to achieving positive results in the field of company establishment in terms of time, cost, and start-up procedures.