Russian industrial zone to be established in Egypt

The Head of the Industrial Development Authority (IDA) Ismail Jaber held a meeting with a delegation of Russian Embassy experts to explain the merits of investing in Egypt as well as the facilities offered for investors.

The meeting was attended by secretary general of Suez Governorate and representatives of the Egyptian Tax Authority.

In a statement issued on Thursday, Jaber said that the IDA organized field visits for the Russian delegation to the sites that might be suitable for establishing a Russian industrial zone in Egypt such as northern Ataka area in Suez and northern Fayyoum.

The inspection tours came upon the directives by the political leaderships in the two countries and the recommendations of the ninth session of the Egyptian-Russian higher committee.

There were contacts between the Egyptian and Russian sides before the visit of the delegation where the Russian Economic Development as well as the Industry and Trade Ministries showed interest in establishing the Russian industrial zone in Egypt, Jaber underscored.