News – Government of Russia

As part of a working visit to the Arab Republic of Egypt (Cairo), Deputy Chairman of the Government of Russia Alexei Overchuk held a meeting with the Chairman of the Main Directorate of the Economic Zone of the Suez Canal Valid Gamadaledin and got acquainted with the creation of the Russian industrial zone (RPZ) in the economic zone of the Suez Canal.

During the meeting with the Chairman of the Main Directorate of the Economic Zone of the Suez Canal, Alexei Overchuk, noted that the project to create a Russian industrial zone in the economic zone of the Suez Canal is strategic for our country and has great potential in the context of the provision of unique opportunities for the development of investment and innovative cooperation, the growth of industry in the two countries and the creation of new jobs.

The deputy chairman of the government emphasized that the industrial zone of Ain-Sokhna is one of the world’s largest industrial agglomerations with direct access to the port of Ain-Sokhna, which provides convenient access to global markets, primarily the markets of the global south.

The economic zone of the Suez Canal is a complex with six sea ports that provide 20% of the global volume of container transportation and 10% of the sea trade, as well as four industrial zones. Along the border of the section of the Russian industrial zone, a power grid, a road connecting Ain-Sokhnu with the ports of SUEC and Hurghada, a railway cargo branch; In 9 km – a cargo port with modern container and bulk terminals. In the area itself, treatment facilities and an electrical substation are already located.

As part of the Russian delegation in Cairo, under the leadership of Alexei Overchuk, representatives of the relevant state authorities, business and business associations are present. “It is very important to familiarize the Russian business with the capabilities provided in the zone by preferences of tax and customs regimes, the conditions for supporting projects and the service that open up new opportunities for work in Africa,” said Alexei Overchuk.

During the conference on the implementation of the project of the Russian industrial zone, key issues of the practical implementation of the joint project and the 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 Asian dam, a number of industrial enterprises, power lines, in the creation of nuclear physics laboratories and the performance of the peaceful use of atomic energy. Today we continue the good traditions of many years of cooperation and implement the flagship projects-the first El-Dabaa nuclear power plant in the country of the Russian industrial zone, ”said Deputy Chairman of the Government.

The intergovernmental agreement, signed on behalf of the leaders of Russia and Egypt, laid the basic principles of the project aimed at high -quality increase in the efficiency of bilateral cooperation and improving the investment climate. “The result should be the emergence of industrial infrastructure on the territory of Egypt under the Russian administration with opportunities for Russian participants in foreign economic activity, the creation of new jobs and long -term cooperation chains,” said Alexei Overchuk.

The deputy chairman of the government noted that Russia sees in Africa one of the fastest growing developing markets and considers the Russian industrial zone as a gate to both Egypt and the African continent.

In 2025, both the necessary regulatory procedures were completed from both the Russian and the Egyptian side for the transition to the practical stage of the project. In particular, in May of this year, a contract was concluded in Moscow, legally securing the terms of lease by the Russian side of the land plot of the Russian industrial zone.

The Deputy Prime Minister noted that at this stage, the Russian operator needs to carry out a large amount of preparatory and construction work. “In parallel, our business needs to understand that such work is underway, and to prepare their investment decisions for this. Therefore, the coordination of the efforts of our government, the Egyptian authorities, zone operators, as well as its potential residents, is already important. These plans must be coordinated and built, then residents will appear here, enterprises will arise and new jobs will appear, ”said Deputy Prime Minister.

Alexey Overchuk also thanked the Egyptian side for a warm reception and expressed hope for fruitful interaction.