Translation. Region: Russian Federal
Source: Government of the Russian Federation – Government of the Russian Federation –
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During his working visit to the Arab Republic of Egypt (Cairo), Deputy Prime Minister of Russia Alexey Overchuk met with the Chairman of the General Authority of the Suez Canal Economic Zone Walid Gamaleddin and became familiar with the progress of the creation of the Russian Industrial Zone (RIZ) in the Suez Canal Economic Zone.
During a meeting with the Chairman of the General Authority of the Suez Canal Economic Zone, Alexey Overchuk noted that the project to create a Russian industrial zone in the Suez Canal economic zone is strategic for our country and has great potential in the context of providing unique opportunities for the development of investment and innovation cooperation, industrial growth in the two countries and the creation of new jobs.
The Deputy Prime Minister emphasized that the Ain Sokhna industrial zone is one of the world's largest industrial agglomerations with direct access to the Ain Sokhna port, which provides convenient access to global markets, primarily the markets of the global South.
The Suez Canal Economic Zone is a complex with six sea ports, providing 20% of the world's container shipping and 10% of maritime trade, and four industrial zones. Along the border of the Russian Industrial Zone section there is an electric grid, a road connecting Ain Sokhna with the ports of Suez and Hurghada, a railway freight line; 9 km away is a freight port with modern container and bulk terminals. The section itself already has treatment facilities and an electrical substation.
The Russian delegation in Cairo, led by Alexey Overchuk, includes representatives of relevant government agencies, businesses and business associations. "It is very important to familiarize Russian businesses with the opportunities provided in the zone by tax and customs preferences, project support conditions and services that open up new opportunities for working in Africa," Alexey Overchuk emphasized.
During the conference dedicated to the implementation of the Russian Industrial Zone project, key issues of the practical implementation of the joint project and further strengthening of bilateral cooperation in the industrial sphere were discussed. Alexey Overchuk recalled the long history of cooperation between the two countries. "The USSR participated in the construction of the Aswan Dam, a number of industrial enterprises, power transmission lines, in the creation of nuclear physics laboratories and in the implementation of work on the peaceful use of atomic energy. Today, we continue the good traditions of long-term cooperation and implement flagship projects – the first El Dabaa Nuclear Power Plant in the country and the Russian Industrial Zone," the Deputy Prime Minister noted.
The intergovernmental agreement signed on behalf of the leaders of Russia and Egypt laid down the basic principles for the implementation of the project, aimed at qualitatively increasing the efficiency of bilateral cooperation and improving the investment climate. "The result should be the emergence of industrial infrastructure under Russian management in Egypt with opportunities for Russian participants in foreign economic activity, the creation of new jobs and long-term cooperation chains," Alexey Overchuk emphasized.
The Deputy Prime Minister noted that Russia sees Africa as one of the fastest growing developing markets and views the Russian Industrial Zone as a gateway to both Egypt and the African continent.
In 2025, both the Russian and Egyptian sides completed the necessary regulatory procedures to move to the practical stage of project implementation. In particular, in May of this year, an agreement was signed in Moscow legally securing the terms of the lease of the land plot of the Russian Industrial Zone by the Russian side.
The Deputy Prime Minister noted that at this stage the Russian operator needs to carry out a large volume of preparatory and construction work. "In parallel, our business needs to understand that such work is being carried out, and prepare its investment decisions for this. Therefore, it is already important to coordinate the efforts of our Government, the Egyptian authorities, the zone operators, as well as its potential residents. These plans need to be coordinated and built, then residents will appear here, enterprises will emerge and new jobs will appear," the Deputy Prime Minister said.
Alexey Overchuk also thanked the Egyptian side for the warm welcome and expressed hope for fruitful cooperation.
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